The property market has never operated in a vacuum, and the last few weeks have been another reminder of that. Rising geopolitical tensions and higher oil prices have pushed up swap rates, which in turn has nudged mortgage rates higher. For borrowers, this is clearly unwelcome news, and while the increase isn’t dramatic, it does add a little more pressure to an already sensitive housing market. When borrowing costs rise, buyers tend to pause, budgets get recalculated and decisions become slightly more cautious.
That said, context matters. Over the last five years the housing market has navigated a pandemic, a stamp duty holiday, the fallout from the mini-budget and Liz Truss’s short-lived premiership, a change in government, multiple elections, Brexit before that, and ongoing geopolitical tensions such as the war in Ukraine and the current unrest involving Iran. With the exception of the stamp duty holiday, most of these have created uncertainty rather than momentum. Yet through it all, homes have continued to sell and buyers have continued to move.
For me, the key takeaway is that this isn’t a moment for panic, but it is a moment for realism. Markets like this reward clarity and sensible strategy. Over-optimistic guide prices rarely help, and ignoring the wider economic backdrop doesn’t make it disappear. The best results tend to come from understanding the market you’re in and positioning a property accordingly. When buyers feel confident that a home represents fair value, they still act.
On a lighter note, a thought occurred to me recently that house viewings are a bit like dates. When a buyer walks through the door, the property is effectively meeting them for the first time. And just like on a date, first impressions count for a lot. Buyers often know within the first few minutes whether a home feels right for them. It might not be entirely rational, but that instinctive reaction plays a powerful role.
So if you’re preparing to sell, remember that your home is going on a series of “first dates”. Make sure it’s ready. Tidy the front drive, mow the lawn, open the windows, let fresh air in and make the place feel welcoming. A clean, well-presented house with a bit of curb appeal instantly creates a better atmosphere. It’s a small effort that can make a big difference — because when the right buyer walks through the door, you want the house to make a great first impression.
