Confidence holds strong among buyers, sellers and renters despite uncertainty – London Wallet

The latest OnTheMarket Property Sentiment Index shows that confidence among buyers, sellers, and renters remains strong, even as scepticism grows over the government’s ability to meet its ambitious target of 1.5 million new homes by 2029. The September report also highlights rising calls for property tax reform.

Key findings from the report include:

• 80% of buyers feel confident they can raise funds for their next purchase, with 52% describing themselves as very confident.

• Nearly half (46%) expect house prices to rise over the next year, while two-thirds (67%) anticipate rent increases.

• Most buyers and sellers expect transactions to complete within six months; half of renters believe they can secure a property within three months.

• Almost half (47%) doubt the government will hit its 1.5 million new homes target by 2029.

While confidence has slightly softened compared to earlier this year, optimism remains prevalent. Four in ten sellers expect to receive an acceptable offer within three months, with a similar number forecasting a sale within six months. On the buyer side, 40% expect to secure a property in three to six months, and 27% believe it will take less time. Renters remain upbeat, with half expecting to find a rental within three months.

Financial confidence among buyers is notably high, with 80% confident about raising funds—52% very confident—though 15% express some uncertainty.

Uncertainty around government housing policy persists. Nearly half of respondents doubt the government will achieve its housing target by 2029. Only 12% want the current stamp duty system to remain, while 25% support spreading payments over several years, and 21% favour a new property tax on homes valued above £500,000.

Market activity remains steady, with new property listings growing by approximately 5% each month up to August before a typical seasonal slowdown. Price reductions have also stabilised, with 11% of listings reduced in August, down from 14% in both June and July.

Jason Tebb, president at OnTheMarket, commented: “Despite a certain level of economic and political uncertainty, it’s encouraging to see that confidence among buyers, sellers and renters remains strong.

“Many property seekers are optimistic about their ability to move forward, whether buying, selling or renting, and are adapting to market conditions.

“As we look ahead to the Autumn Budget, it’s clear that further clarity and stability from policymakers will be crucial in supporting the property market and allowing people to make informed decisions about their property journey.”