Press Round Up October 2026

Wed 11 Nov 2026

House prices rose by their slowest pace in three years, climbing by 0.5 per cent in October, according to Nationwide building society. Jeremy Leaf, principal of Jeremy Leaf & Co, told The Telegraph: “The impact of the Middle East war on mortgage rates and inflation has been well documented, but the period leading up to the Budget covered by these figures added a further layer of uncertainty. Word in our offices is that buyers and sellers who have recently paused decision-making now have a clearer idea of what the near-term, at least, will bring, so are slowly resuming activity, albeit cautiously.”

The Chancellor announced more details of the Your First Home scheme in the Budget, aimed at helping first-time buyers onto the housing ladder. Jeremy Leaf told The Financial Times that uncertainty ahead of the Budget and high mortgage rates had weakened confidence: “Delay to the introduction of the government’s Your First Home scheme until next spring will mean transactions will decline further, while aspiring first-time buyers continue to delay taking that crucial first step on to the housing ladder.”

The Chancellor also took the opportunity in the Budget to impose extra income tax on landlords, which will do nothing to help the supply of rental property, nor the rents charged, as landlords exit the sector or try and pass increased costs onto tenants. Jeremy Leaf told Bloomberg: “Sadly, there was nothing to encourage new landlords into the buy-to-let sector or anything to persuade others to stay invested. There is an urgent need to stem the flow of those leaving the sector or rents will keep rising and standards will keep declining."

The Chancellor also announced in the Budget that he is paying £100 to households in council tax bands A to D. Jeremy Leaf told The Daily Mail: “The payment is aimed at those with lower-value properties to try and help those who may be more in need, which seems fair at a time when budgets are tight. However, it doesn’t always follow that this will be case - will it apply to a second or holiday home, or only for owner-occupiers? What about tenants? Will they get the benefit? Given that council tax is based on some very old property valuations, surely this is another argument for root-and-branch reform of the system.”

The latest transaction figures from HMRC show a fall in deals in September compared with August. Jeremy Leaf told PrimeResi: “Mortgage rate and Budget unpredictability have contributed to a shortage of confidence which is weakening demand a little, particularly as prices are so sensitive. But despite real incomes and employment improving affordability, these numbers are always a better indicator of market health than prices alone, not just because mortgaged and cash sales are included. However, delay to the introduction of the Government’s new Your First Home scheme until next Spring will mean transactions will decline further while aspiring first-time buyers continue to delay taking that crucial first step onto the housing ladder.”