When is the right time to buy a property?

Timing is everything when it comes to buying a property. Certain times of the year are better than others, while your chances of securing a good deal can be influenced by housing availability, buyer competition, changing inflation, etc.

Here are some stats that will give you an idea of what the current UK property marketplace is like so far in 2025:

• The average house price in the UK was £268,652 in May 2025, based on data from HM Land Registry. This reflects a 1.1% rise from the previous month and a 3.9% increase compared to last year.
• Based on Zoopla's House Price Index, the annual house price increase is approximately 1.3% as of June 2025. This marks a slowdown from six months ago but remains higher than in June 2024.

• In March 2025, there was a spike in transactions as buyers aimed to finalise purchases before the stamp duty changes took effect in April. This was followed by a decline in April, but activity appears to be bouncing back, according to MoneyWeek and HomeOwners Alliance. 

• In June 2025, mortgage approvals were up 6% compared to a year ago and up 1% compared to May 2025.
• Average mortgage rates are presently around 4-5%. Although lower rates were expected, current inflation data indicate that rates will likely stay near these levels for the foreseeable future. 

 

This article explains some generic factors that will help you determine the right time to buy a property.

Affordability

Many prospective first-time buyers face affordability issues, with the average property costing nearly eight times the average salary. Therefore, keeping your finances in order is vital before buying a property.

You should only buy a house when you can afford it, taking into account additional costs such as stamp duty, conveyancing, surveys, and removal fees. Check your credit score before you apply for a mortgage, as the lender will scrutinise your financial history before they agree to give you a loan.

Are you buying in a price inflated market?

Prices on the property market have continued to increase over the past decade, primarily driven by a housing shortage that cannot satisfy current demand levels.

If you’re buying property as a long-term investment, you could argue that a slight pullback in prices would be insignificant compared to long-term gains. It is more important to look at all the generic factors that can help with decision-making when buying a property.

Separate from the booming house market, this doesn’t mean bargains can’t be found, as a lot depends on the seller’s circumstances at the time. If they want to sell quickly, due to a divorce, a death, or to free up some equity in the expensive 2025 climate, they may be willing to take a lower offer. Paying in cash or not being linked to a property chain also increases your appeal compared to those not in the same position.

Number of properties available

More houses are typically available in the spring, as sellers in property chains are eager to complete and move into their new homes before the summer. This makes springtime a good time for buyers to look around for their ideal property.

Conversely, numbers tend to drop in the summer and winter, so your options may be more limited. However, there could also be less competition on the market in terms of buyers, so you can secure a better price for a property you take a shine to.

What are the current mortgage rates?

Mortgage rates vary across the market, with every lender setting their own rate. Currently, mortgage rates are considered high, with the Bank of England setting the base borrowing interest rate at 4% as of August 2025. This makes it difficult for a lender to offer a low enough price to convince you to buy, and we may see house prices provide a slight pullback due to the slowdown in demand, based on these high rates.

Your current credit score, which serves as a risk indicator for the lender, will also heavily influence the mortgage rate you are offered. The higher it is, the better your mortgage rate will likely be. This goes back to our point above regarding your finances, so you should request a free credit report and check if any outstanding historical issues can be resolved.

With both property prices and mortgage rates generally considered high in 2025, the current market may be best for selling rather than buying. Buying at a reasonable price may prove more difficult unless certain specific circumstances occur, where a seller may want to sell quickly, as previously mentioned.

We are always happy to listen to your questions if you have any concerns or want to learn about potential buying opportunities. We might be able to inform you about upcoming opportunities that aren’t yet on the market. The best thing to do is to give us a call.

With over 21 years of experience covering Finchley, Hendon, and Mill Hill, you can lean on our expert knowledge to find a buying solution that is perfect for you. Squires Estates is a multi-award-winning, local specialist. We offer free housing valuations and are constantly updating ourselves with the latest stats and trends within the property game. Please get in touch with us if you require any more information.