Press Round Up March 2026

Tue 21 Apr 2026

Mortgage approvals picked up to a three-month high in February , according to the Bank of England. Jeremy Leaf, principal of Jeremy Leaf & Co Leaf, told The Daily Mail: “As recent events in the Middle East have continued so we have seen in our offices the inevitable impact on confidence, particularly regarding mortgage costs and inflation.” He explained further in The Standard: "Needs-driven buyers are still active, but overall numbers have dipped. So far the overwhelming majority of sales are proceeding although nagging concerns about how far and how fast costs are likely to rise in the short term at least are continuing.”

Indeed, uncertainty created by the Iran war has led to lenders increasing mortgage rates and pulling deals. Jeremy Leaf told City AM: “Even before [the Iran war] it is clear the market was in a cautious state. Confidence has definitely improved this year compared with the end of last but remains relatively fragile.”

As expected, the Spring Statement did not bring any new policy announcements. Jeremy Leaf told PrimeResi: “The need to improve economic growth and address rising unemployment is even more important than it was at the time of last November’s Budget but the Chancellor failed to offer much prospect of change. While there has been less speculation about tax rises and spending cuts this time around, the Chancellor also hasn’t delivered any encouragement for first-time buyers, who are the engine of the housing market and enable transactions to be unlocked further up chains."

Competition among tenants is at its lowest level since before the pandemic, although agents report that the market is being warped by the Renters’ Rights Act. Jeremy Leaf told The Times: “Landlords will find regaining possession is likely to prove more difficult.. as a result, an increasing proportion of landlords are not renewing agreements and trying to sell despite the attraction of higher rents and yields.”

The average asking price of a home jumped by £3,000 in March, according to Rightmove, despite global uncertainties. Jeremy Leaf told The Standard: “Despite inevitable worries that the present geopolitical uncertainty will increase upward pressure on inflation and mortgage payments, we have seen no price reductions or withdrawals from agreed sales in our offices other than for property-related reasons. Most buyers are obviously nervous about the impact of the conflict but are adopting a ‘wait and see’ stance for now at least."

The government has announced a number of new towns. However, Jeremy Leaf told Property Soup: “Most of these announcements relate to expansion of existing suburbs and housing estates on the edge of established existing conurbations… the timescale for building starts [also] seems incredibly optimistic i.e. three to start by 2029 - bearing in mind acquisition and financing of infrastructure and meeting tough environmental rules."

Soaring energy prices created by the war in Iran have ruined hopes of an interest rate cut at the Bank of England’s March meeting. Jeremy Leaf told The Express: “Most are adopting a wait-and-see stance for now at least. We have seen no price reductions or withdrawals from agreed sales in our offices other than for property-related reasons."