ZOOPLA says searches are up 7% with signs already there of an autumn bounce as brokers say “it truly is a buyers’ market”.
The online property portal says there are clear signs the autumn bounce is starting with the number of people searching for homes to buy up 7% year-on-year.
It is a national rebound with more people searching in every region for the first time since August 2025.
The rebound in activity is despite would-be home buyers being hit by higher mortgage rates with buying power down by 9% when compared to January.
The average home buyer using a mortgage needs £18,200 more for deposits to counter higher rates since January, reaching £35,500 in London.
More buyers have been sitting on the sidelines over the summer with sales down 6% year-on-year, but the gap to last year is starting to close as activity starts to increase.
Sellers keep listing homes for sale – there are 5% more homes on the market than this time last year, providing plenty of choice for buyers.
House price growth has cooled further to 0.9% year-on-year in July, compared to 1.3% in June.
Gaurav Shukla, CEO at Marlow-based Home Me Mortgages, said sellers need to “start reading the room and reassessing their expectations”.
He added: “I’ve seen business levels pick up over the past week, so there are certainly early signs of an autumn bounce. Buyers aren’t necessarily more confident about where mortgage rates are heading, but for many, the desire to buy a home is outweighing the uncertainty around rates.
“Some sellers are still pretty stern on asking prices, but if they want to sell quickly, they may need to start reading the room and reassessing their expectations. The biggest misconception I see is waiting for both rates and house prices to fall. In most cases, you can’t time both.
“If rates fall, buyer demand could increase and push prices back up, so waiting doesn’t necessarily make buying cheaper. With more properties available and buyers having greater choice, I’d say the market is certainly leaning more towards buyers at the moment.”
Positive
Rupert Collingwood, Founder at The London Broker, said it is a buyers’ market.
He added: “As the summer holidays come to an end and we lean into the autumn market it is positive news that search activity is up. Translating this renewed enthusiasm will be critical. Any sellers hoping to move before Christmas should look carefully and dispassionately at their pricing in their local market.
“With more stock available today than probably at any time in the last 10 to 15 years, it truly is a buyers’ market, so it is critical that vendors do what they can to attract viewings and offers in early autumn, and not wait until the clocks change and the dark winter evenings kick in, and viewings become less appealing. Speak to your agent about what they recommend and what they can do to encourage more engagement with the market that is out there.”
Michelle Lawson, Director at Fareham-based Lawson Financial, said she has noticed more business in recent weeks.
He added: “We are definitely seeing an uptick in purchase activity although many are buying vacant properties so it isn’t generating a chain. It is a good time to buy – although rates may be higher, buyers are more likely to save more on the negotiation rather than the lower payments due to lower interest rates.”
Harry Goodliffe, Director at Winchester-based HTG Mortgages, said it’s not quite the autumn bounce that many are talking about.
He added: “Autumn bounce is an illusion. A 7% jump in searches means more people are window shopping at prices they can’t actually afford. Sales are still down 6% on last year, and that gap tells you more than anything.
“The story is deposits: buyers now need £18,200 more than in January to keep pace with higher rates, rising to £35,500 in London, before they’ve even found a home they want. More houses for sale gives buyers choice, but sellers still won’t budge much.”
Riz Malik, Independent Financial Adviser at Southend-on-Sea-based R3 Wealth, said many are getting “chain fatigue”.
He added: “The most active demographic at present are first-time buyers. Those looking to sell and move seem to have chain fatigue if they are lucky enough to find a buyer. Not long now until the Budget which will dictate what happens for the remainder of the year as movers look for Stamp Duty concessions to overcome higher borrowing costs.”
Buyers’ market
Justin Moy, Managing Director at Chelmsford-based EHF Mortgages, said he is seeing more business.
He added: “After a subdued few months, we have certainly seen more activity from those looking to move, a mix of first-time buyers and home movers have been setting budgets and securing agreements.
“Around this time last year, the long, protracted lead-up to the government’s budget had just started to cause some negativity in the property market, so there are other good reasons that the numbers are up on 2025, apart from the normal pent-up demand, fuelled by low supply in the right parts of the country.”
Tony Sanchez, Founder at Bridging Loan Directory, said first-time buyers may need to lower their budget.
He added: “More people searching does not necessarily mean an autumn bounce has arrived. Zoopla’s figures show renewed interest, but agreed sales are still 6% lower than last year and buyers have less purchasing power than in January. The additional £18,200 should not be read as an observed increase in the typical deposit.
“It is the extra cash Zoopla estimates a buyer would need to purchase the same home while keeping their monthly mortgage payment unchanged. For first-time buyers without family support or substantial savings, that may mean lowering their budget, delaying a purchase or looking in a different area.
“With 5% more homes available and affordability restricting what buyers can offer, conditions currently favour realistic buyers more than sellers. But it is not an unrestricted buyers’ market: mortgage costs still determine who can proceed and how much negotiating power they can actually use.”
