Residential market holds its nerve ahead of the Autumn Budget
Signs of improvement are beginning to show in the residential property market, but a degree of unease persists as the Autumn Budget approaches, writes Zah Azeem, Partner at Wimbledon based Chartered Surveyors Scrivener Tibbatts.
Fresh figures published by Property 118 highlight the contrast between a buoyant residential sector and more subdued activity in commercial property. Across the UK, non-residential transactions have fallen by 5.5 percent so far this year, while residential transactions have risen by 6.1 percent.
Non-residential activity is averaging 9,910 transactions per month in 2025, down from 10,488 last year. Residential volumes, by comparison, have climbed to an average of 97,458 per month, up from 91,868 in 2024. The uplift not only reverses the slowdown seen in 2023 but pushes sales to their highest level since 2022.
England leads the way with a 7 percent increase in average monthly residential transactions, followed closely by Wales at 5.6 percent.
Here in Wimbledon In stark contrast, the residential property market has shown a more resilient performance this year, with transaction levels trending upwards. This positive shift is largely attributable to an improvement in buyer sentiment, which has been buoyed by a general downward trend in mortgage rates. The greater affordability and increased confidence have spurred activity, suggesting a divergence in the fortunes of the commercial and residential real estate sectors.
But inflation remains stubborn and the risk of future rate adjustments continues to temper optimism. The forthcoming Autumn Budget is another point of uncertainty, with buyers and sellers alike keen to understand the direction of travel on taxation, fiscal policy and any potential adjustments to housing-related measures.
If you would like to discuss something related to a property valuation, please contact me direct via email at zah@scrivenertibbatts.co.uk or call 020 8947 7040.
