Tom Hayman-Joyce MRICS and Cotswold Market Comment June 2026. As seen in Cotswold Life magazine. Tom says:

In discussing the property market, I return consistently to two fundamental drivers: confidence and the availability of money.

The availability of money

At present, the latter remains remarkably strong. Despite a prevailing sense of uncertainty, both domestically and internationally, there is significant liquidity within the system. Indeed, as a nation we are saving at a markedly higher rate than has historically been the norm. Current figures suggest approximately 9 per cent of earnings are being set aside, compared with a long-term average closer to 5 per cent. Bank of England data indicates this equates to some £5 billion being added to savings each month.

Such behaviour is unsurprising. Periods of uncertainty tend to engender caution, and households respond accordingly by strengthening their financial position. However, this accumulation of capital represents latent purchasing power, ready to be deployed when confidence returns. Importantly, that money has not disappeared, it is simply waiting.

Property value

From a valuation perspective, there is a compelling argument that property currently represents excellent value. As noted by the behavioural economist Roger Martin-Fagg, “currently houses are a bargain”. When one considers house prices in real terms, adjusted for inflation, they are broadly comparable to levels seen in 2003, whilst real disposable incomes have increased by approximately 19 per cent over the same period. On this basis alone, the relative affordability of property is evident.

Market activity

Looking ahead, the mortgage market is likely to become increasingly competitive, particularly as regulatory pressures ease and lenders seek to deploy capital. Greater competition should, in turn, drive innovation and pricing benefits for borrowers, further reinforcing market activity.

Confidence in the market

The lingering question, of course, is confidence. With geopolitical and economic uncertainty unlikely to dissipate in the immediate term, many prospective buyers and sellers find themselves hesitating.

Yet one must ask: how long does one wait? For those looking to move within the market, whether upsizing or downsizing, any perceived softening in sale price is typically mirrored on the purchase side, rendering the net position broadly neutral.

For first-time buyers and investors alike, the logic is perhaps even clearer. If the fundamentals suggest value today, delaying a decision in anticipation of falling prices may prove counterproductive. There is ample money in the system and opportunity within the market. The question, therefore, is a simple one: do you remain on the sidelines, or do you act decisively? – Tom Hayman-Joyce

Contact Tom directly at tomhj@haymanjoyce.co.uk or call 01608 651188.

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