The Office for National Statistics (ONS) has released its latest figures on private rental prices and house price trends across the UK, offering a fresh snapshot of the housing market’s direction. With affordability concerns, fluctuating interest rates, and regional disparities continuing to shape the landscape, the data is being closely watched by industry professionals, policymakers, and consumers alike.
Industry experts and professionals have shared their views
Lee Williams, National Sales Manager at Saffron for Intermediaries comments:
“Today’s data underscores the housing market’s resilience, with prices continuing to edge higher despite growing uncertainty ahead of the Budget. The modest rise reflects steady activity, with limited supply still placing upward pressure on prices.
All eyes now turn to the Autumn Budget for bold action to reignite momentum. Keir Starmer’s move to amend the Planning Bill and remove barriers to new developments is a necessary step toward the government’s 1.5 million-homes target.
With affordability pressures persisting, lenders are adapting their products to better support borrowers, making professional advice vital to securing the best deal.”
Responding to the latest on house prices, Nathan Emerson, CEO of Propertymark, said:
“Despite an economy that continues to throw challenges, especially to those on the housing ladder, it is positive to see people witness growth in their equity when looking at property.
Consumers have battled a very unfavourable combination of high inflation and interest rates over the last few years, and there remain potential uncertainties ahead in many cases.
Next month, we will see the Chancellor set down fiscal plans within the Autumn Budget, and there is widespread speculation that Stamp Duty across England and Northern Ireland may be scrapped and potentially replaced with an alternative.
Depending on what is proposed and implemented, there is potential to create a much smoother-flowing property marketplace. However, it is important that any new system helps remove barriers to purchasing a property for those who aspire to.”
Responding to the latest on private rented prices, Nathan Emerson, CEO of Propertymark, said:
“With the average income needed to rent a home across the UK now reaching £45,420 and £1,514 being the typical rental price, it is clear that there are challenges which need addressing, in terms of simply not having enough supply of rental properties available to meet current demand levels.
We are about to witness some of the biggest evolutions in over thirty years within the rental sector, with the Renters’ Rights Bill across England and the Housing (Scotland) Bill.
Both will make fundamental changes to how landlords operate and are aimed at strengthening consumer rights concerning standards. Across the forthcoming decade, it is essential that all eyes are turned to encouraging long-term investment in the rental sector to keep up with increased demand and population growth.”
James Evans, CEO of Douglas & Gordon, comments:
“Today’s figures point to renewed momentum as confidence steadily returns. Many buyers who hit pause earlier in the year are now back in the market, encouraged by more stable rates and improving affordability.
It’s a positive sign, but we’re not out of the woods yet. Inflation staying at the same level for the third month in a row and policy uncertainty ahead of the Autumn Budget is already making some buyers cautious, particularly at the higher end.
What the market needs now is consistency and a clear signal from the government that it’s committed to supporting stability.”
Simon Gerrard, Chairman of Martyn Gerrard Estate Agents:
“These figures from August represent sales from earlier in the year and don’t show the slowdown that set in once Budget speculation started. However, they illustrate what a healthy housing market we could be having right now if the government wasn’t spreading unnecessary fear.
Poor messaging and policy decisions are causing some stagnation in the short-term, but these figures do show how the fundamentals underlying the UK market remain strong.
There remains a lack of new supply and there is not enough housing for a population determined on homeownership. The market is waiting for clarity, which means there is a lack of transactions taking place at the moment, but once that has been given, we should see a burst of pent-up demand.”
