Press Round Up April 2026

Mon 18 May 2026

Average rents have stopped rising with landlords having to reduce their prices in order to find a tenant, according to property portal Rightmove. Jeremy Leaf, principal of Jeremy Leaf & Co Leaf, told The Guardian that after the Iran war started on 28 February, tenants were even more concerned about the rising cost of living than ever. He explained further in This is Money that landlords are also concerned about the Renters’ Rights Act and the impact that will have: “Landlords will have to be tougher in terms of referencing the tenants and guarantors because evicting them is going to be much more difficult, particularly given the current court backlog. If demand remains high, some landlords may be less inclined to carry out works that are really necessary because they may take the view - why should they improve the property to the standard they would have done previously, when there are four or five people prepared to rent in its existing condition? We could see a lowering of standards among those landlords looking to cut corners."

Landlords also have to contend with higher tax on rental income from this month, with an increase of 2 percentage points. Jeremy Leaf advised landlords in The Telegraph: “It’s worth checking your finances and ensuring your portfolio is working as hard as possible - fix mortgage rates, extend your term, opt for interest only, and perhaps consider incorporating. Many landlords are going down the incorporation route, but there are cost and tax implications which need considering.”

House prices dropped by 0.5 per cent in March, taking annual growth to 0.8 per cent, according to the Halifax. Jeremy Leaf told IFA Magazine: “Activity picked up encouragingly earlier this year but was stopped in its tracks when it became apparent that fallout from war in the Middle East would be more long-lasting than previously feared. Many buyers have been supported by mortgage offers obtained before hostilities started, so they have been able to take advantage of sellers’ low expectations. This survey from the country’s largest lender confirms what we have seen on the ground - that some of the less-committed have paused while the more serious are negotiating hard, so we are only seeing a wobble not a more serious dip in prices."

Zoopla also saw a slowdown in UK house price growth with 1.3 per cent growth annually, down from 1.8 per cent a year ago. Jeremy Leaf told Property Wire that housing market activity is proving more resilient than expected despite ongoing geopolitical tensions. However, he noted that increased property availability, particularly for flats, is keeping prices under control and leading to more protracted transactions as buyers negotiate harder.

Property transaction numbers fell by 41 per cent in March compared to the same month last year, according to HMRC, primarily due to the rush in transactions 12 months ago as buyers attempted to take advantage of the stamp duty concession which was about to end. Jeremy Leaf told The Independent: “The 'need-to-moves' are showing more realism when it comes to negotiations, although the amount of choice of flats in particular means it is taking longer to obtain commitment and some prices are softening a little.” He explained further in The Standard: "Demand for smaller family houses has remained relatively strong as we would expect at this time of year."

Gazundering, where a buyer has agreed to purchase a property but changes their mind at the last minute, is every seller’s worst nightmare. One of the jobs of the estate agent is to ensure that the buyer has strong credentials and is in a position to buy in the first instance. Otherwise, Jeremy Leaf told The Telegraph: “Purchasers who are most exposed will be more vulnerable to interest rate rises in the future, and it may induce a wobble if rates continue to rise.”

The Bank of England voted to hold base rate at 3.75 per cent for another month. Jeremy Leaf told PrimeResi: “Although it is likely interest rates will go up again before they start coming back down, the hold today is a nod to the inflationary pressures which are building due to the impact of war in the Middle East. Certainly, the Bank did not want to do anything which would compromise what little growth we have seen in the economy recently, which would clearly prove to be self-defeating. As far as the impact on the property market is concerned, the effects are likely to be fairly minimal although encouragingly we have noticed some mortgage costs starting to creep down again. This will certainly help to improve confidence which remains at a relatively low ebb."