Press Round Up May 2026

Fri 05 Jun 2026

Transaction numbers declined in March compared to the same month a year ago, according to HM Revenue & Customers. Jeremy Leaf, principal of Jeremy Leaf & Co 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. Demand for smaller family houses has remained relatively strong as we would expect at this time of year."

London house prices have fallen to their lowest level since 2021, according to the Office for National Statistics. Jeremy Leaf told The Telegraph: “The data shows that the Iran war is catching up with buyers and sellers with its inevitable impact on confidence. Overall, on the ground, sales are proceeding but more slowly and taking much longer to complete, with price reductions and renegotiations commonplace."

The gap between house prices in London and other big UK cities is at its narrowest since the financial crisis. Jeremy Leaf told The Financial Times: “Central London has plenty of its own issues, including the impact of the non-dom measures, the stamp duty surcharge and now the mansion tax, let alone the economic climate. High taxation means London starts to lose its allure and discretionary buyers can choose to be somewhere else.”

Nearly half of all homes for sale fail to sell, according to new research from Zoopla, and if you are desperate to sell you might need to accept a lower offer than you were hoping for. Jeremy Leaf told The Sun: “If the agent can demonstrate the property has been fully marketed over a reasonable period there may be little alternative other than to accept the offer and move on – however unpalatable it may seem at the time."

Buyer demand remains subdued across the housing market, although committed movers and first-time buyers continue to support activity despite uncertainty around mortgage rates, inflation and the wider economy. Jeremy Leaf told IFA Magazine: “These figures confirm what we have been seeing in our offices over the past few months: a drop in buyer demand, but those who are in the market are serious about moving - it really is a case of quality over quantity. Those motivated buyers on the lookout for a new home are taking advantage of their negotiating position, particularly given the backdrop of ongoing concerns about the Iran war and knock-on effects on the cost of living and mortgage rates.”

Mortgage lending is running above the six-month average, according to the Bank of England, with mortgage approvals increasing slightly to 63,500 in March from 62,700 in February.Jeremy Leaf told PrimeResi: “What’s particularly interesting about these latest mortgage approvals is that not only are they a good indicator of likely housing market activity over the next few months, they reflect a healthy increase at a time when we might have expected more of a pause with so many other economic distractions. We have seen a similar pattern in our offices - a grim determination of the need-not-want-to-moves taking their time as there is plenty to look at but generally still happy to proceed after negotiating best possible terms."