The next few weeks bring two big dates for anyone thinking about moving: the Autumn Budget on Wednesday 28 October and the Bank of England’s interest rate decision on Thursday 5 November. Add the run-up to Christmas and it’s no surprise that many homeowners are asking whether to press ahead now or wait until the new year. Here’s what we know, what we don’t, and how to make the right call for you.
What’s happening at the Budget?
The 28 October Budget will be the first delivered by Chancellor John Healey. As with every recent fiscal event, the build-up has been full of speculation about property taxes, and that uncertainty has made some buyers and sellers hesitate.
The good news is that the biggest worry has already been addressed. Prime Minister Andy Burnham ruled out changing or abolishing stamp duty at this Budget back in July, and Downing Street has dismissed reports that stamp duty and council tax could be replaced with a new annual property charge. That commitment covers this Budget rather than the whole Parliament, but it means there is no stamp duty deadline to race, and no reason to hold off in the hope of a cut.
Some changes are already confirmed. The High Value Council Tax Surcharge, often called the ‘mansion tax’, will apply to homes in England worth £2 million or more from April 2028, adding between £2,500 and £7,500 a year. It won’t affect the vast majority of sellers, but owners of higher-value homes will want to watch for any detail on thresholds and valuations.
What about interest rates?
The Bank of England has held Bank Rate at 3.75% since December 2025. At its September meeting, three of the nine committee members voted to raise it to 4%, and with inflation at 3.1% and energy prices elevated, financial markets now expect a rise on 5 November.
Lenders have already priced much of this in, which is why fixed mortgage rates have climbed so quickly. Average two- and five-year fixes are now close to 6%, according to Moneyfacts. Encouragingly, some lenders have started trimming selected deals again in recent days. But there’s little sign of a return to the sub-5% rates we saw in the spring any time soon, so waiting for much cheaper mortgages before you move could mean waiting a long time.
Is it worth selling in the run-up to Christmas?
Many people assume the property market goes quiet once the clocks change, but that isn’t the whole picture. Buyers searching in November and December tend to be serious ones, often with a clear reason to move: a new job, a growing family or a school place. Fewer casual browsers means viewings are more likely to turn into offers.
Timing also works in your favour. Rightmove notes that autumn traditionally brings more active buyers than the summer months. Agreeing a sale now means the legal work can get under way before the new year, putting you in a strong position for a spring move.
It’s worth remembering that stock levels are high. Rightmove says the number of homes for sale is at its highest for this time of year since 2014. Many sellers hold back for the traditional January rush, so competition in the new year could be even greater. Listing now can help your home stand out before the next wave arrives.
The case for waiting
Waiting isn’t always the wrong decision. If you don’t need to move, have no fixed timescale and would prefer to see how the economy settles, there’s nothing wrong with taking time to prepare. Use it well: tackle small repairs, declutter and gather your paperwork so you’re ready to launch in the new year.
What matters is waiting for the right reasons. Holding off in the hope that prices will jump is a gamble. Most forecasts point to broadly flat prices: Zoopla expects annual house price growth to slow to around 0.5% by the end of 2026, and RICS members expect prices to be broadly unchanged over the next 12 months.
Thinking of downsizing?
New research from Barclays found that around a quarter of homeowners would be open to downsizing, and on average they would want to release around £108,500 from the sale to make it worthwhile. Stamp duty and moving costs were the biggest obstacles. With stamp duty confirmed as unchanged at this Budget, downsizers have more clarity on their costs and can plan with greater confidence.
How to decide
The right timing depends on your circumstances, not the headlines. Ask yourself why you’re moving, when you need to be in your next home and what your onward purchase will cost. If you’re buying as well as selling, a softer market can work in your favour: any adjustment on your sale price may be balanced by greater negotiating power on your purchase.
Whichever route you choose, a clear, local view of the market is the best place to start. Speak to your local branch for a free valuation and an honest conversation about whether now, or spring, is the right time for you.
