The property market started 2026 on a relatively stable basis, with increasing buyer demand, improved supply and falling mortgage rates. move right January saw the biggest increase in asking prices in 25 years, data shows.
That window was short-lived. Just six weeks later, US and Israeli attacks on Iran sent energy prices higher, affecting inflation expectations and mortgage swap rates. Lenders quickly withdrew their lowest-priced deals, and mortgage rates rose sharply during March, erasing much of the early year’s gains.
Despite the rapid change, Michele Niziol, founder of agency brand IMS Property Group, says there are still opportunities for buyers to move forward, although situations require more attention and faster decision-making.
Niziol said: “The pace of change took many buyers by surprise and brought back a level of uncertainty about what might happen next.
“What we’re seeing now is not buyers disappearing, it’s buyers staying put – the intent is still there, but people are taking longer to commit because of how quickly conditions have changed.”
Niziol believes it is up to estate agents to convince buyers that they do not need to “wait for the right moment” to buy a property.
He added: “The right moment rarely comes in the way people think. What matters more is whether the numbers work for you today and are sustainable over time. Waiting can sometimes make things harder rather than easier, whether that’s through rising rents, higher deposits or more competition when things get better.
What is a challenge for some buyers is an opportunity for others. Higher rates have made affordability harder, but they’ve also taken some of the heat out of the market. With more choice and less competition, it’s a better environment for buyers who are in good standing, have a strong deposit, equity behind them, or already have finance ready.
“The property market continues to reward those who plan properly and think long-term,” Niziol said. “What has changed is that decisions need to be based on today’s conditions, not based on a version of the market that may not come back the same way. If the numbers work now and they work permanently, there is no good reason to wait.”