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"It’s meant to be a buyers’ market, but many buyers are MIA"

ended 01. October 2025

It's a buyers' market but buyers are “MIA”, “strangely absent” or “nowhere to be seen”, property and mortgage market experts have said.

One conveyancer said sellers could be in for a “rude awakening” as buyer numbers dwindle, while a broker pointed the finger at the government and the upcoming Budget, saying that, ”until the Chancellor shows her hand, the housing market will remain in a state of suspended animation".

Chris Barry, Director at London-based Thomas Legal, said buyer numbers have dipped sharply and that “the major house price indices seem out of sync with the sharp price corrections we're seeing on the ground”.

He added: "The rapid decline in buyer numbers will lead to price reductions across large parts of the market. We are seeing multiple price reductions daily in an attempt to entice what little buyers there are to commit quickly given the Budget at the end of November.

“But the Budget in turn may alter people's motivation to see any existing offers through to completion. A pull-back in prices is what the market needs but the current rate of decline is more than many expected. Sellers could be in for a rude awakening at this rate.”

Omer Mehmet, Managing Director at Welling-based Trinity Finance, said buyers are MIA: “It’s meant to be a buyers’ market, but many buyers are MIA (missing in action). Higher mortgage rates and constant rumours of new property taxes mean people are holding back, even when prices are being slashed.

"Sellers are having to cut hard to tempt anyone through the door. Until confidence returns, it won’t feel like a buyers’ market — it will feel like no one’s market.”

Ranald Mitchell, Director at Norwich-based Charwin Mortgages, agreed: “On paper it’s a buyers’ market, but in reality buyers are nowhere to be seen. People aren’t rushing in to snap up bargains, instead they’re sitting tight, paralysed by uncertainty.

"With the Budget delayed until November, movers are frozen in place, worried about the impact of potential property tax changes, job security and the wider economy. Until the Chancellor shows her hand, the housing market will remain in a state of suspended animation.”

Michelle Lawson, Director at Fareham-based Lawson Financial, said sellers and buyers are in a standoff: "Both buyers and sellers are responsible for the current logjam as both are digging their heels in. What we're seeing is a Mexican standoff on steroids."

Adam Stiles, Managing Director at London-based Helix Financial Partners, said rumours about potential taxes are not helping: “A lot of buyers are being put off by the unpredictable nature of this Government's policies, resulting in a veritable rumour mill. Given that some of these rumours could very well be true, many buyers and sellers, as well as developers, are holding off."

Babek Ismayil, CEO at homebuying platform OneDome, suggested some buyers could be hoping for a Budget boost: "More and more people are waking up to the fact that it's a strong buyers' market at present. But some may be holding out in the belief that there could be some fiscal incentives announced in November.

"Of course, if there are, that could see the market swing back very quickly in favour of sellers. Uncertainty around what could be announced is likely causing hesitation among some buyers even though they know they're in the driving seat."

Scott Gallacher, Director at Leicester-based Rowley Turton, said landlords selling up is a factor: “With higher costs and tighter regulation, we’re seeing landlords selling up — adding to supply — but not reinvesting back into the market. That’s leaving fewer buyers in play and contributing to the unusual situation where it’s technically a buyers’ market, but buyers themselves feel strangely absent.”

9 responses from the Newspage community

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Chris Barry
Director at Thomas Legal
The major house price indices seem out of sync with the sharp price corrections we're seeing on the ground. The rapid decline in buyer numbers will lead to price reductions across large parts of the market. We are seeing multiple price reductions daily in an attempt to entice what little buyers there are to commit quickly given the Budget at the end of November. But the Budget in turn may alter people's motivation to see any existing offers through to completion. A pull-back in prices is what the market needs but the current rate of decline is more than many expected. Sellers could be in for a rude awakening at this rate.
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Ranald Mitchell
Director at bad credit mortgage specialists Charwin Mortgages
On paper it’s a buyers’ market, but in reality buyers are nowhere to be seen. People aren’t rushing in to snap up bargains, instead they’re sitting tight, paralysed by uncertainty. With the Budget delayed until November, movers are frozen in place, worried about the impact of potential property tax changes, job security and the wider economy. One sharp price cut in Cheltenham is just a snapshot of the anxiety out there. Until the Chancellor shows her hand, the housing market will remain in a state of suspended animation.
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Scott Gallacher
Director at Rowley Turton
By definition, a buyers’ market means sellers outnumber buyers. That can happen because more sellers come to market, fewer buyers are active, or both. From my experience with clients, it’s clearly a mix of higher interest rates reducing affordability, or profitability, and demographic shifts. Many buy-to-let investors, who are often older, are deciding they can’t be doing with the hassle any longer. With higher costs and tighter regulation, we’re seeing landlords selling up — adding to supply — but not reinvesting back into the market. That’s leaving fewer buyers in play and contributing to the unusual situation where it’s technically a buyers’ market, but buyers themselves feel strangely absent.
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Michelle Lawson
Director at Lawson Financial
These are very odd times as I am seeing buyers wanting to buy and vendors wanting to sell. Property prices are reducing at a rate of knots to get them to shift but the government are doing a great job of putting buyers off with their uncertainty and dangling of the Stamp Duty carrot. Are the properties desperately overpriced at the start? There must be give and take. Both buyers and sellers are responsible for the current logjam as both are digging their heels in. What we're seeing is a Mexican standoff on steroids.
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Adam Stiles
Managing Director at Helix Financial Partners
A lot of buyers are being put off by the unpredictable nature of this Government's policies, resulting in a veritable rumour mill. Given that some of these rumours could very well be true, many buyers and sellers, as well as developers, are holding off. What seems to be a theme of this Government is not thinking through the unintended consequences of their actions. The market needs stability and confidence but neither of these exist with the way things are right now.
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Riz Malik
Independent Financial Adviser at R3 Wealth
The buyers may be absent but the investors are ready for a steal. There is always a buyer at the right price and those looking for a quick sale have few options. Scrap stamp duty land tax tomorrow and the market will fly.
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Babek Ismayil
CEO at homebuying platform OneDome
More and more people are waking up to the fact that it's a strong buyers' market at present. But some may be holding out in the belief that there could be some fiscal incentives announced in November. Of course, if there are, that could see the market swing back very quickly in favour of sellers. Uncertainty around what could be announced is likely causing hesitation among some buyers even though they know they're in the driving seat.
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Ross Lacey
Director & Independent Financial Adviser at Fairview Financial Management
Right now, we're seeing buyers take a more cautious approach. This may be in part driven by the uncertainty of what'll come out in the Autumn Budget, but also anecdotally the appetite to start the buying process in the final few months of the year seems to be waning.
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Omer Mehmet
Managing Director at Trinity Finance
It’s meant to be a buyers’ market, but many buyers are MIA (missing in action). Higher mortgage rates and constant rumours of new property taxes mean people are holding back, even when prices are being slashed. Sellers are having to cut hard to tempt anyone through the door. Until confidence returns, it won’t feel like a buyers’ market — it will feel like no one’s market.