Press Round Up August 2025

Wed 10 Sep 2025

House prices returned to growth in July, according to Nationwide building society, with the average home rising by 0.6 per cent. Jeremy Leaf, principal of Jeremy Leaf & Co, told The Guardian: “On the ground, transactions are holding together relatively well. As a result, looking forward we expect to see a modest improvement all round, particularly if interest rates are reduced in the next month or so as widely forecast, despite lingering concerns about the economy."

The Royal Institution of Chartered Surveyors reports that the flow of fresh rental properties coming to market has fallen at its fastest rate in five years, while new buyer inquiries fell back in July. Jeremy Leaf told The Standard: “Agreed sales are mostly holding, supported by falling mortgage rates and a stable employment environment.” As far as lettings are concerned, he said: “We noticed that demand has dropped over the past month or so, especially for two-bed flats in older buildings, with more interest in modern, lower maintenance properties."

London house prices are forecast to rise by 6.5 per cent next year, according to Capital Economics. Jeremy Leaf told Money Week that any increase in London house prices over and above the rest of the UK is likely to be “generated by more settled economic conditions and improvements in affordability and buying power”. However, he added that there is a lot of variation in the capital: “We would expect higher price increases in the more popular areas in London, particularly in the suburbs, as in the centre the market is likely to continue to be compromised by the changes to non-dom status. Values also differ according to property type – on the ground we are seeing that needs-driven buyers are looking for longer-term single-family houses rather than activity in the flat market, which is so plagued by oversupply at present.”

One in three sellers are having to cut their asking price in order to attract buyers, according to property portal Rightmove. Jeremy Leaf told Forbes: “As is customary at this time of year with so many on holiday, the quantity of our enquiries may have dropped but the quality has improved. Serious buyers are taking advantage of the extra choice and their burgeoning bargaining power. On the ground, realistic sellers too are not fixated with achieving the maximum price possible but concentrating on the difference between what they receive and what they have to pay for their next home. As a result, some values are softening but not dropping significantly."

Dwindling house prices, plus interest rate reductions, mean it is more of a buyer’s market than a seller’s market and vendors must get the price right if they are serious about transacting. Jeremy Leaf told The Telegraph: “There is a hell of a lot of property on the market, and if you want to stand out, you have to be realistic about price. A lady came in wanting to look at one of our properties. She said, ‘It is very nice. But I have got 12 to see today’."

The government is rumoured to be considering imposing national insurance on landlords’ rental income in the Budget on 26 November. Jeremy Leaf told City AM: “The government may feel there is a bit more fat on this calf and can take some of it but a lot of careful thought is needed. As it is, it is widely appreciated that there isn’t enough rental property on the market and if this plan to charge national insurance comes to pass, this extra tax may just be the final straw."