Property expert warns affordability remains biggest obstacle as “cautious optimism returns to UK housing market”

A leading property expert says improving confidence is encouraging buyers back into the market, but affordability remains the biggest barrier to a sustained recovery.

Recent data from Rightmove, Halifax and Nationwide suggests house prices have largely plateaued rather than entered a period of significant decline. While buyer demand remains measured, Rolande says the market is demonstrating resilience rather than weakness.

“The market has cooled, but it certainly hasn’t collapsed,” said Rolande. “Prices have flattened and transactions are taking longer because buyers are being much more cautious, but people are still moving for work, family, schools and lifestyle changes.”

Rolande believes the underlying issue is affordability rather than short-term market sentiment.

“For years, house prices have risen much faster than wages and that gap has become increasingly difficult for buyers to bridge.

Many first-time buyers are now looking at homes costing close to ten times their annual income, compared with four or five times income a generation ago.”

He says the affordability challenge affects both urban and rural markets.

“London and many cities remain particularly difficult because prices have raced ahead of earnings, but lower prices in rural areas are often matched by lower wages, leaving affordability just as stretched.”

Rolande also points to a continuing shortage of available homes as a factor supporting prices.

“Many homeowners, including landlords who bought buy to let properties years ago, are choosing not to sell. Fewer homes coming onto the market inevitably keeps pressure on prices while demand continues to grow.”

Looking ahead to the autumn market, Rolande believes sellers should avoid assuming increased seasonal activity will automatically lead to stronger offers.

“Autumn is traditionally a busy period, but buyers are much better informed than they were a few years ago. They can compare asking prices with recent sales, monitor how long properties have been listed and quickly identify whether a home represents genuine value.”

He warns that unrealistic pricing remains one of the biggest mistakes sellers can make.

“The first few weeks of marketing are usually when a property attracts the greatest attention. If buyers dismiss it because the asking price is too ambitious, sellers can lose valuable momentum. Equally, sellers should pay attention to buyer feedback. A lack of enquiries or plenty of viewings without offers are both valuable indicators that the market is sending a message.”

However, Rolande stresses that not every property requires a price reduction.

“Well-presented homes in desirable locations that are priced sensibly continue to perform well. Property has always been local, and understanding the conditions in your own market is far more important than reacting to national headlines.”

Despite continuing affordability pressures, Rolande believes the overall mood is becoming more positive.

“I wouldn’t describe the market as booming or even fully recovering, but confidence is improving. That matters because buyers who feel less anxious are far more likely to begin searching seriously and commit to a purchase.”

He expects prices to remain broadly stable in the coming months.

“My expectation is for a period of stability rather than dramatic change. Confidence should continue to improve gradually, but affordability remains the issue that needs solving before the market can move from stability to genuine recovery.”