Halifax HPI being released at 7am: Comments needed this evening

We had a busy December with property purchases and remortgages. Our phones started ringing again, and more enquiries came through almost as soon as the Budget was announced and people knew just how they were going to be affected. There is generally a natural market slowdown in December, but we were still helping lots of first-time buyers work out their mortgage affordability and getting mortgages agreed for those with offers accepted. It really is a buyer's market at the moment, and potential borrowers are biding their time to make sure they get a decent property at the right price. Mortgage rates are much cheaper than they were and affordability is improving, but with UK Finance predicting 10,000 fewer property transactions in 2026 compared to 2025, the market is still going to be difficult for many buyers and sellers. It is also fair to say the higher end of the market is not exactly firing on all cylinders.

December wasn’t the usual Christmas dead zone. Activity ran right up to the final day, off the back of a very busy November. Purchase enquiries stayed strong throughout the month and that momentum has carried straight into January, which tells you demand hasn’t gone anywhere. Did the Autumn Budget spark it? Honestly, not really. There wasn’t a single game changer moment for home movers. It wasn’t Westminster that lit the fire, it was the market itself. When lenders keep sharpening rates and confidence in borrowing costs improves, buyers simply get on with it. And first time buyers held their ground. They’re still cautious because affordability is the gatekeeper, but where the numbers stack up, they’re ready to move. The appetite is there, the monthly payment makes the decision.