An unprecedented property market

Following the unforeseeable action in February 2026 by the United States of America engaging Iran and subsequently the blockade of the Strait of Hormuz, many economists & forecasters predicted that the knock on effect would have grave consequences for the property market due to the uncertainty of when the conflict would end and the impact on the global economy.  Despite previous gains being shown in the UK economy, in light of the conflict emerging and increasing global prices, The Bank of England elected to maintain the present interest rate of 3.75%.

A move which was taken to couple the already existing unrelenting pace of the property market with the wider economic realities taking place to halt the possibility of a crash.

Over the course of the last several months, both the conflict and interest rate speculation, appears to have had no visible effect on the property market, been a deterrent to buyers or led to a fabled down valuation of properties from mortgage lenders. 

The Lloyds house price index has now reported that the average price for homes coming onto the market has risen to their pre-Iran war levels, somewhat in line with the values evident from the start of the year.  

This news should treated as an indication that the property market is now, more than ever, resilient to wider market forces. The last few years’ worth of sudden economic changes has not dampened the resolve of both buyers and sellers alike.   Noticeably, the property industry has seen a recorded rise in the number of both first time buyers and seasoned landlords purchasing property.

This is positive news for all involved in the property profession and we welcome all who are seeking their first or next involvement in the property market.

Should you be considering purchasing another property or indeed planning to gift funds to a family member to aid their purchase, now would be the ideal time to enquire for the right legal services and reliable source of advice.

If you have any questions about the conveyancing process or wish to get a quote for the costs involved, why not call our team at Mosshaselhurst Solicitors on 01606 74301.