by Dee Quealy
The property market continues to move this October, although the latest figures highlight just how important affordability and realistic pricing have become.
The average asking price of a newly listed home has risen by 1.0% this month, an increase of £3,575, taking the national average to £371,015.
However, prices are virtually unchanged compared with this time last year, down by just 0.1%. Beneath that national figure, there are some significant regional differences as higher mortgage rates put further pressure on buyers’ budgets.
Despite those challenges, sales are still being agreed. For homeowners in Kent, the message remains reassuringly familiar: motivated buyers are out there, but they are taking a considered approach and comparing their options carefully.
That makes accurate pricing, strong presentation and effective marketing particularly important.
Asking Prices Rise, But the Market Remains Price-Sensitive
October’s 1.0% increase in average asking prices follows September’s 0.7% rise and takes the national average to £371,015.
On the surface, that suggests some continued Autumn momentum. However, with asking prices 0.1% lower than a year ago, the market remains finely balanced.
One of the biggest influences is the amount of choice available to buyers.
The total number of properties for sale remains at its highest level for this time of year since 2014. Meanwhile, new listings are 3% higher than a year ago, while the number of potential buyers contacting estate agents is 9% lower.
For sellers, that means standing out from the competition is essential.
Buyers can compare several properties within the same price bracket, often within minutes of beginning an online search. If one home appears significantly more expensive than comparable properties nearby, buyers may simply move on to the next.
This is why getting your asking price right from the outset is so important.
Mortgage Rates Put Greater Pressure on Affordability
Mortgage rates have risen again over the past month, creating an additional consideration for anyone planning a move.
The average two-year fixed mortgage rate is now 5.55%, up from 5.29% in September and 4.25% before the conflict in Iran began earlier this year.
For a typical new mortgage, that means average monthly repayments have increased by around £250 since February.
Naturally, this affects what some buyers can comfortably afford.
Rather than disappearing from the market altogether, many buyers are adjusting their expectations. That could mean looking at a different property type, widening their search area or being particularly careful about the price they are prepared to offer.
There is still a good range of mortgage products available, and the headline average rate will not necessarily reflect the rate available to every individual borrower. Anyone considering a purchase should seek advice based on their own circumstances and establish what feels affordable before beginning their search.
Regional Differences Show Why Local Knowledge Matters
National averages can be useful, but they never tell the whole story.
This month, new sellers in four of the five lowest-priced regions of Great Britain have reduced their asking price expectations. Prices have fallen by 2.0% in the North East, 1.9% in Scotland, 0.6% in the North West and 0.3% in Wales.
London has moved in the opposite direction, with average asking prices rising by 2.5% this month.
However, that increase needs some context.
London experienced a particularly weak summer, with asking prices falling by around 6% across July and August. Even after October’s rise, prices remain 1.7% below last year.
Other indicators also suggest the capital continues to be challenging for sellers, with homes taking longer to find buyers and a significant proportion of listings requiring price reductions.
For homeowners here in Kent, it is another useful reminder that national headlines should always be considered alongside what is happening in your individual area.
Two properties with the same number of bedrooms can perform very differently depending on their location, condition, presentation, outside space, proximity to schools and transport links, and the number of competing homes available nearby.
That is where genuine local market knowledge becomes invaluable.
Buyers Are Still Moving
There is some encouraging news within October’s figures.
Despite higher mortgage rates and wider economic uncertainty, property transactions are continuing.
The number of sales being agreed is around 8% lower than at the same point last year, but this is broadly in line with the trend seen throughout 2026.
In other words, the market has not experienced a sudden drop in activity despite the recent increase in borrowing costs.
For sellers, this is important.
Properties are still finding buyers when they are positioned appropriately for the current market. The challenge is ensuring your home captures attention from those buyers when they have more properties to choose from.
At Quealy & Co, we have decades of experience selling homes across Kent, and we know that there is rarely one single ingredient behind a successful sale.
The asking price matters, but so do professional presentation, photography, marketing, communication and a clear strategy from the day your property launches.
What Could the Budget Mean for the Property Market?
With the Autumn Budget taking place on Wednesday 28 October, it is adding an extra layer of uncertainty to decision-making this month.
Some buyers and sellers may understandably prefer to see what is announced before committing to their next move, particularly as financial markets consider what the Budget could mean for inflation, government borrowing and future interest rates.
First-time buyers will also be watching closely for further details of the Government’s proposed Your First Home scheme.
The scheme is expected to provide another route into home ownership for eligible first-time buyers purchasing participating new-build homes in England, with further details expected as part of the Budget.
Until those details are confirmed, some prospective first-time buyers may decide to wait before making a decision.
However, if you are considering moving, it is worth remembering that trying to perfectly time the property market can be difficult. Your own circumstances, affordability and plans are usually far more important than reacting to individual headlines.
What Does This Mean for the Kent Property Market?
Here in Kent, there are still buyers looking for the right homes.
What has changed is the amount of choice available to them and the increasing pressure on affordability.
For sellers, that means a property needs to make a strong impression from the moment it reaches the market.
Competitive pricing does not mean undervaluing your home. It means understanding its true position within the current local market.
At Quealy & Co, we look at recent comparable sales, current competition, buyer demand and the individual qualities of your property to recommend an asking price supported by local evidence.
We also consider how best to present and market your home so that buyers have a reason to choose it over other properties available nearby.
With decades of experience in the Kent property market, our team understands that conditions can vary considerably between different towns, villages and even individual streets.
That local knowledge is particularly valuable in a market like this one.
Thinking of Selling Your Kent Home?
October’s figures show that buyers are still moving and sales are still being agreed, but this remains a market where the right strategy matters.
If you are considering selling your home, understanding its current value and how it compares with competing properties is the best place to start.
At Quealy & Co, we can provide an honest, evidence-based assessment of your property’s value, backed by decades of local experience, and advise you on the best way to bring your home to market.
Book your free, no-obligation property valuation in Kent:
https://www.quealy.co.uk/properties-valuation
Alternatively, call our experienced local team on 01795 429836 or email hello@quealy.co.uk to discuss your plans.
Source: Rightmove House Price Index, 19 October 2026.
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