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Welcome to your weekly briefing on important things affecting the housing market.

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This week’s top 5 housing market facts:

1. Government’s emergency reaction as London housebuilding collapses
   https://www.telegraph.co.uk/business/2025/10/22/starmer-emergency-measures-sadiq-khans-housing-crisis/

2. Reeves council tax hike will hit house prices overnight https://www.dailymail.co.uk/news/article-15205165/Tens-thousands-homeowners-hit-new-council-tax-bands-Rachel-Reeves-sets-sights-higher-value-homes.html

3. Shocker as FT calls home sellers “delusional” on price. (Coming from one of the biggest price pumpers out there, this was a surprise!) https://www.ft.com/content/b4e3ddad-f9ba-4649-8b60-faf6366a22e0

4. Rightmove October House Price Index price lower than a year ago, and all homes except “top of ladder” saw average asking prices drop month on month, when usually October sees a big seasonal rise. https://www.rightmove.co.uk/news/content/uploads/2025/10/Rightmove-HPI-20th-October-Finall.pdf

5. Pensioner property sales volumes spike 26% distorting overall average readouts and covering a wider fall in prices. https://www.twentyci.co.uk/phmr/twentyci-property-homemover-report-q3-2025/

6. Whole of London shows falling prices https://www.bloomberg.com/news/articles/2025-10-22/london-house-prices-fall-for-first-time-in-more-than-a-year

7. Well intentioned Renters Rights Bill to cause chaos as it passes final hurdle in parliament to become law in 2026 https://bills.parliament.uk/bills/3764 

Charlie's Thought of the Week: The edge of the abyss.

The fear is palpable. Just exactly what is going to be unveiled on November 26th by the Chancellor? The uncertainty around the budget has drained large swathes of the property market of their usual autumn activity.

Overall national average activity levels don’t seem particularly different, but they mask a market of two halves, north and south.

I hesitate to keep reiterating how worried I am for the fate of hesitant sellers for whom selling is essential, but when I saw another well known market commentator pointing out that sellers who are waiting for the budget before selling are making a huge mistake, I was relieved I wasn’t the only one.

It all feels very pre-crashy. The flatlining economy, rising joblessness, the closing of major chains like Pizza Hut, the mothballing of ever more housing developments, the total collapse of housebuilding in London in a way that’s never happened, all before we even know what horrors the chancellor is cooking up for us, makes me think that 2026 could turn out to be one of the worst years for the housing market and society in general for a very long time.

The vibe on the streets is already reminiscent of the early 90s, and lenders are offering ever bigger mortgages.

After the global financial crisis of 2008 many commentators warned that if we didn’t allow the housing market to correct itself to it’s natural level, we would be saving up much worse pain for later on.

It feels increasingly like that pain is right around the corner, and it’s going to be a new kind the likes of which we haven’t experienced before.

Britain has lost its standing as an economic powerhouse on the world stage. Our energy costs are bleeding households and businesses of whatever money remains after rent and mortgages are paid. There is no visible sign of sustainable economic growth anywhere.

In fact, the Prime Minister and Mayor of London are in panic meetings about rescuing the London housebuilding sector. Too late, fellas. It’s dead.

I’m sorry, this isn’t entertaining or insightful. But I write this having just spent the evening in a room full of mortgage brokers, conveyancers, lawyers and surveyors, each of whom had their anecdote of, whisper it, just how f*cked the market is.

What can be done?

Yet again, it’s about the move, not the money. I think that waiting for the budget before moving will, in hindsight, be a mistake for many people, especially sellers. I have nothing on which to base this view, other than 35 years running businesses in the housing market, a background in the city, and a well developed instinct for these sorts of things.

I worry we are on the edge of the abyss, that the budget is what’s going to tip us over into it, and that there’s no visible way out of it on the horizon.

Jeez, even I’m feeling miserable just writing this!

Prepare for the worst, hope for the best, always buy a home if you can afford it and plan to stay for the long term, and keep all your chins up. The sun will still rise tomorrow!

And it’s Halloween soon too. So we can all dress up, look silly, have fun and hang out with the people whose company we enjoy. At least I hope you can.

Have a happy weekend all, and I promise to try and be a little more uplifting next week!

Charlie.

In case you missed anything this week…

The 9 reasons the UK housing market doesn’t work

What Rightmove’s Index tells us about October house prices

The great housebuilding lie we all pay for (including an unscheduled guest appearance from a well-oiled Housing Stig - warning, multiple expletives!)

Most viewed post this week on X:

Most viewed video this week on TikTok:

@movinghomewithcharlie

Over 172,000 children lack permanent homes, an 8% spike in one year.

That’s all for this week!

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Have a great weekend, lots of love and luck to you all.

Charlie