Local experts explain why October is still a great time to get on the property market
It’s no secret that the residential property market in the UK has been behaving a little oddly of late. Depending on where you are and the kind of property you’re trying to sell, you could be seeing slow progress… or on the other hand, if you’re a buyer or seller in a property hotspot like Cambridge, homes continue to fly off the market.
“One of the fortunate things about Cambridge is the wealth of successful and growing tech businesses we have here, such as Apple, Microsoft, Arm and Darktrace. Cambridge is something of a bubble in that respect; there is always a good market for job movers,” affirms Adam Raker, head of sales for the Eastern region at housebuilder The Hill Group.
Overall, Hill has seen a flight to quality during the past 12 months. “Fewer people are moving overall, but when they do move, they are looking to future-proof their purchase and buy a ‘forever home’,” says Adam. “The downsizer market is also strong, with couples moving from affluent villages into more central Cambridge locations. We’re seeing fewer first-time buyers and investors, but a comeback in the Bank of Mum and Dad.”
Senior sales valuer at estate agent Bush & Co, Paul Wellington, is seeing a similar trend. “Activity levels remain strong for well-priced homes, and especially those in prime locations,” he confirms.
Downs and ups
There have been several critical factors influencing the market over the past year – unsurprisingly, all economic. Changes to stamp duty that were introduced on 1 April are one of the most recent and more unwelcome of those factors. With the nil-rate band dropped to £125,000, a 2% bracket reintroduced and first-time buyer discount reduced, most buyers will now find themselves having to pay a good deal more tax.
While there was an evident rush to complete purchases before these changes came into effect, from Paul’s point of view they have subsequently had a negligible effect on the market.
However, “with current speculation over what the chancellor may come up with in November’s Budget, particularly around stamp duty, it’s possible that we may not see quite the usual seasonal spike in September and October,” cautions Adam. Watch this space, as they say.
On a positive note, interest rates have gradually been proving more favourable over the past year, as they slowly but surely recover from the spike of 2023. During 2025, the Bank of England has thrice reduced the interest rate – first to 4.5% in February, then 4.25% in May and 4% in August – and mortgage lenders have responded in kind.
“Though mortgage rates remain higher than the historically low levels of 2021, we have experienced a gradual drop with fixed rates now available below 4%. This has encouraged more buyers to consider their next or first purchase,” Paul notes.
“We are also seeing a return of high loan-to-value mortgages, which is boosting buyer confidence,” adds Adam.
It’s not too late
As we enter the winter months, it can perhaps feel a little late to contemplate selling or buying a home, but the experts are clear that October is still a great time to get on the market.
“The end of the summer season sees normality returning to people’s lives – and that includes home searching!” Paul enthuses. “I expect positive activity in the coming months with the traditional autumn surge in full swing.”
“It’s a buyers’ market at the moment, so people can be very discerning and there is less competition. Meanwhile, a good-quality product in the best location will always sell,” says Adam.
“For instance, at Knights Park, The Hill Group’s multi-award-winning development in Eddington, we are selling the very last townhouses available and our final phases of apartments at The Icon and Fusion. It’s the last opportunity to secure your dream home here.”
Home sweet home
So, what are the chances of moving into your new home by Christmas? We asked our experts for their top tips on speeding up the process.
“Firstly, make sure to get your ducks in a row and be organised. Use a recommended and trusted solicitor, and it’s helpful to use an independent financial advisor too, instead of going directly to the bank,” suggests Adam.
Paul agrees that a good, knowledgeable solicitor will help smooth the transaction path. “Also, ensure that you build a strong relationship with your estate agent who will oversee the whole process and identify any issues along the way. It’s likely that there will be problems that arise, and your agent should be able to advise you professionally to ensure all essential milestones are being hit,” he adds.
“Be realistic with targets and take on board advice from those in the know. We are here to help you achieve your goals.”
