The For Sale board has been outside for four months. The viewings dried up in August. The one offer that came in was from another landlord, thousands below the asking price. If that sounds familiar, you're not alone. Here's what the official figures say about the market in autumn 2026, and what they mean if you own a rental home.
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Key takeaways
- The market is stuck, not crashing: prices are flat and more homes are for sale than in 12 years.
- Mortgage rates around 5.29% are the main reason buyers are holding back.
- The picture varies hugely: 91% of homes in Scotland find a buyer, against 42% in London.
- 31% of landlords plan to sell, and landlord buyers pay an average of 88.7% of asking.
- Selling isn't the only option: keeping the home and changing how you let it can work better.
Contents
Is the property market crashing?
No. It's stuck. Rightmove's September index shows the average asking price at £367,440, 0.8% lower than a year ago, with more homes for sale than at any point in 12 years for the time of year, and buyer demand 9% lower than last September. Completed sales tell a similar story: the ONS puts the average UK price at £273,000 in July 2026, up only slightly on £269,000 a year earlier.
Why has the market slowed?
Mortgage rates. Rightmove reports the average two-year fixed rate at 5.29%, up from 4.25% before the war in Iran, adding around £180 a month to the average new mortgage payment. Buyers can borrow less, so they offer less, or wait.
Is it the same everywhere?
No. There's no single UK market. Rightmove's figures show how different the picture is by region:
| Region | Homes finding a buyer | Asking prices over the year |
|---|---|---|
| Scotland | 91% | +4.2% |
| North West | 71% | +1.7% |
| South East | 56% | -1.8% |
| London | 42% | -2.6% |
Source: Rightmove House Price Index, September 2026.
Who is buying?
Mostly first-time buyers, and they're stretched. The NRLA notes that Zoopla estimated first-time buyers made up 39% of all sales in 2025. Rightmove's affordability figures show a typical first-time buyer home asking £225,199, while one person on average earnings can borrow about £176,904, and a couple about £353,808.
How many landlords are selling?
A lot. Government survey figures reported by the NRLA show 31% of landlords are planning to sell homes. In the NRLA's latest quarterly survey, one in four landlords had served a possession notice in the past year, with selling because of the Renters' Rights Act the second most common reason. From April 2027, income tax on property income also rises by two percentage points, according to the NRLA.
What does selling a rental get you right now?
Less than you'd hope, if the buyer is another landlord. The NRLA reports Hamptons' analysis showing landlord buyers paid an average of 88.7% of the initial asking price, and that 56% of investor offers came in at least 10% below asking. On a £300,000 home, that gap is around £34,000 before any other costs.
What are your options?
- Sell to a first-time buyer. Usually a better price than a landlord buyer, but the home normally needs to be empty. Read selling a house with tenants.
- Wait for a better market. Only if you can cover the costs while you wait.
- Keep the home, and change how you let it. Short and medium-term lets avoid tenancies under the Renters' Rights Act. Read should landlords sell in 2026?
See what your home could earn instead
Before you accept an offer below asking, see what your home could earn as a short or medium-term let. Get your free valuation.
Frequently asked questions
Is the UK property market crashing in 2026?
No. Asking prices are 0.8% lower than a year ago, but more homes are for sale than in 12 years and buyer demand is 9% lower, according to Rightmove.
Why has the housing market slowed?
Mainly mortgage rates. Rightmove reports the average two-year fix at 5.29%, up from 4.25% earlier in the year.
Which parts of the UK are selling best?
Scotland, where 91% of homes for sale find a buyer, and the North West at 71%. London is lowest at 42%.
How many landlords are selling?
Government survey figures reported by the NRLA show 31% of landlords plan to sell homes.
Do landlord buyers pay less?
Yes. The NRLA reports landlord buyers paid an average of 88.7% of the initial asking price.
Related guides
Sources
This is general information, not legal, financial, tax or insurance advice. Market figures are averages as of the date shown above and change every month. Speak to a qualified professional before you act on anything here.