Is Now a Good Time to Buy? What the Experts Are Actually Saying in 2026
The question of whether now is a good time to buy property in Britain has been asked with genuine urgency every year since approximately 2003, and the honest answer has been the same every year since: it depends on where you want to buy, how long you intend to stay, what you can afford to borrow, and whether you have the emergency fund to absorb three months of unexpected costs in a property you now own.
The 2026 market has several specific features that make the question more answerable than usual.
Property is most reliably an investment when you hold it for seven years or more. Shorter than that, the transaction costs alone erode most of the gain.
The 2026 market has several specific features that make the question more answerable than usual.
Property is most reliably an investment when you hold it for seven years or more. Shorter than that, the transaction costs alone erode most of the gain.
Interest rates have come down from their 2023 highs but remain above the historic lows of the 2010s. The mortgage market has repriced accordingly, and the difference between a two-year and five-year fix at current rates is narrow enough that most advisers are recommending the five-year for the certainty it provides in a period where rate movements remain hard to predict.
House prices in London and the South East have softened marginally from their 2022 peak and remain high by any historical comparison. In most of the Midlands and the North, prices are considerably more accessible and have held steadier through the recent rate cycle. Manchester, Leeds, Birmingham and Sheffield are all cities where the price-to-income ratio, while still stretched, is meaningfully better than the capital.
House prices in London and the South East have softened marginally from their 2022 peak and remain high by any historical comparison. In most of the Midlands and the North, prices are considerably more accessible and have held steadier through the recent rate cycle. Manchester, Leeds, Birmingham and Sheffield are all cities where the price-to-income ratio, while still stretched, is meaningfully better than the capital.
The first-time buyer market has benefited from the mortgage guarantee scheme and expanded Lifetime ISA thresholds, and the supply of new-build properties has increased in several of the major regional cities. The Help to Build route is also worth exploring for anyone with land access who is serious about self-build.
Property is most reliably an investment when you hold it for seven years or more. Shorter than that, the transaction costs alone, stamp duty, legal fees, removal costs, the initial outlay on a property that requires work, erode most of the gain. The decision to buy should be made primarily on the basis of where you want to live and how long you intend to stay, not on the basis of whether prices will go up in the next two years.
If you are considering a property purchase, independent financial advice is the essential first step. Which? Money members have access to impartial one-to-one
Property is most reliably an investment when you hold it for seven years or more. Shorter than that, the transaction costs alone, stamp duty, legal fees, removal costs, the initial outlay on a property that requires work, erode most of the gain. The decision to buy should be made primarily on the basis of where you want to live and how long you intend to stay, not on the basis of whether prices will go up in the next two years.
If you are considering a property purchase, independent financial advice is the essential first step. Which? Money members have access to impartial one-to-one
guidance from qualified experts covering mortgages, savings and financial planning. As a member you can access an exclusive 15% discount on a Which? Money annual membership.
One final point on timing. The decision of when to buy and where to buy will, over fifteen to twenty years, matter far less than the decision of whether to buy at all. People who bought in Birmingham or Sheffield in 2010 at prices that felt uncomfortable have, in most cases, done considerably better than people who waited for a correction that did not arrive on the expected schedule.
The more productive question is not whether prices will fall but whether you can sustain the cost of owning the property across a range of economic scenarios, including higher interest rates, a period of lower income, and unexpected repair costs. If the answer is yes, and you plan to stay for seven years or more, the decision to buy is more defensible than almost any other use of the same money.
One final point on timing. The decision of when to buy and where to buy will, over fifteen to twenty years, matter far less than the decision of whether to buy at all. People who bought in Birmingham or Sheffield in 2010 at prices that felt uncomfortable have, in most cases, done considerably better than people who waited for a correction that did not arrive on the expected schedule.
The more productive question is not whether prices will fall but whether you can sustain the cost of owning the property across a range of economic scenarios, including higher interest rates, a period of lower income, and unexpected repair costs. If the answer is yes, and you plan to stay for seven years or more, the decision to buy is more defensible than almost any other use of the same money.
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