A Market Rich in Choice
Autumn has always been one of the busiest times in the property calendar, and this year is no different. Since the end of the summer, serious movers have been getting on with their plans, many in the hope of completing before Christmas.
Across our network, we currently have 13% more homes available than at this time last year, while our database of registered buyers has grown by 8%. In September alone, we registered 5% more new buyers than in the same month last year, pointing to a healthy, active market in which there is, importantly, plenty of choice. For sellers, more choice simply means the details matter more. Accurate pricing, thoughtful presentation and skilful negotiation are what separate a home that sells well from one that lingers, and that is exactly where the right agent makes the difference.
Demand is Building Again
Each month, we compare the number of active buyers on our database with the number of homes available. We currently have 18.5 buyers registered for every property on the market. This number is a little lower than a year ago, but an improvement on the summer low of 16.
Prices Are Holding Firm
The latest ONS figures, published on 21 October, show the average UK house price rose by 0.9% in the year to August, with the South West region holding its value over the past twelve months. Rightmove’s October index tells a similar story. Asking prices for newly listed homes rose by 1% this month, leaving them broadly level with a year ago. Some will call that flat. I see it as stability, and after the swings of recent years, a market that holds its value is one in which homeowners can plan with confidence.
Just as encouraging, Rightmove reports that sales are still being agreed at a similar pace to earlier in the year, despite higher borrowing costs, meaning buyers have not stepped away. They are simply more considered, and the right homes at the right price continue to sell.
A Word on Mortgages
Borrowing costs have crept up in recent weeks, driven largely by global events rather than anything closer to home. The Bank of England has held the base rate at 3.75% for six consecutive meetings, with its next decision due on 5 November. With the Budget now behind us, the savviest buyers are securing a mortgage agreement in principle, so they are ready to act when the right home comes along. That is good news for sellers, too. A buyer with finance already lined up is a buyer ready to proceed.
What the Budget Means for Dorset
After weeks of speculation, the Autumn Budget has brought welcome clarity. For most homeowners, very little has changed. There were no changes to Stamp Duty or Capital Gains Tax, so there is nothing new standing in the way of a move, and buyers who were waiting for the Budget can now get on with their plans. Looking further ahead, the Office for Budget Responsibility is forecasting house price growth of around 2.5% in 2027.
First-time buyers also have a clear timetable for the new Your First Home scheme. Buyers of new-build homes will need a deposit of just 2.5%, supported by a 20% government equity loan that is interest-free for the first five years. Pre-registration opens by the end of December, with the first loans expected from April 2027. First-time buyers are the foundation of our property market, and anything that helps them take that first step is good news for all homeowners.
A Time for Landlords to Plan
The lettings market remains strong. According to the ONS, the average monthly rent across the South West is up 4.2% on last year. The Budget confirmed that tax on rental income will rise by a further 2% from April 2027, on top of the increase announced last year. Demand for well-presented rental homes continues to outpace supply, and the OBR expects rents to keep rising, supporting healthy returns for landlords across Dorset.
There is time to plan before the changes take effect next April. If you are weighing up whether to hold, sell or restructure your portfolio, our DOMVS Property Audit, with input from specialist advisers, compares the sales and lettings routes side by side, so you can decide with clarity.
Looking Ahead
Dorset’s appeal has not changed. The coast, the countryside and our much-loved market towns continue to draw buyers from across the country, and well-positioned homes continue to attract strong interest. There is still a valuable window before Christmas to launch a property and agree a sale, and homes prepared now will be ready to make the most of the New Year market, traditionally one of the strongest periods of the year. Keep an eye out for our Boxing Day Boom, when we’ll be launching a number of homes across Dorset.
With more choice on offer, buyers will be drawn to homes that are priced accurately and presented beautifully from day one. With the right advice, sellers are well placed to secure an excellent result.
If you are thinking of moving this autumn or in the New Year, we would welcome a conversation. Clear advice, backed by local market evidence, can make all the difference to your sale.
Click here for a free valuation of your property.
You can also contact us on 01305 757300 or [email protected].
