Propertymark responds to latest ONS private rent and house price index
Responding to house prices, Nathan Emerson, CEO of Propertymark, comments: “It is positive to see the housing market progressing forward in strength. As we move towards the autumn months, hopefully this momentum will continue.
“There continues to be two factors that may weigh heavily on consumers’ minds as they decide on what to do next regarding potentially approaching the buying and selling process. Any decision that the Bank of England makes tomorrow regarding base rates will determine whether people can realistically afford to relocate, and the uncertainty about potential further Stamp Duty restructuring may impact those moving house in England and Northern Ireland.
“Though we have clarification that the Budget will take place on 26 November 2025, this may cause people to delay their next house move in the meantime. For some, however, these factors will not impact their decisions due to the importance and urgency of their home move and may be able to more easily absorb any additional financial constraints to facilitate a home move.”
Responding to rental prices, Nathan said “Now that politicians throughout the UK have returned from the summer recess, both the Scottish Parliament and Westminster will progress the Housing (Scotland) Bill and the Renters’ Rights Bill respectively. While both pieces of legislation represent fundamental changes to the rental markets of Scotland and England, the ongoing process of fine-tuning new legislation has the potential to create an environment of uncertainty for many landlords and renters.
“Demand is still outstripping supply considerably, which is why we cannot afford to see investors consider selling up and causing any further reduction in the supply of rental properties.
“With a population expected to exceed 70 million people by the end of the decade, there needs to be provision to enhance the flow of sustainable properties of all types and tenures into the system, backed up by data-driven insight and supporting infrastructure on a regional basis.”