The housing market remains steady so far in April despite higher mortgage rates due to global uncertainty. Average new seller asking prices rise by 0.8% (+£2,929) in April to £373,971.
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Property market news
So far in 2026, the housing market has held up well, even with mortgage rates climbing sharply in recent weeks amid the uncertainty stemming from the war in Iran.
Buyer demand so far in April is running around 7% lower than the same point last year. That said, this isn’t a new pattern - we saw similar year‑on‑year dips in both February and March.
It’s also worth keeping this in context. The market in 2025 was unusually busy, with many buyers rushing to complete purchases ahead of the stamp duty increase. Combined with the later timing of the Easter holidays this year, that makes direct comparisons with last year a little less straightforward.
Prices
Over the last 12 months the average sales price in Bristol was £369,176.
32% of sales in the past 12 months were flats, achieving an average sales price of £281,544. Houses achieved an average price of £420,506.
The highest value recorded by the Land Registry over the past 12 months was £2,150,000 for a flat and £3,000,000 for a house.
Demand
Transactions
“Some buyers will be feeling cautious due to cost of living and mortgage rate increases. However, the latest data shows that, at least for now, home-movers are largely showing their usual resilience with their housing needs trumping other events. While higher mortgage rates negatively affect affordability, many buyers are also benefiting from rising wages, lower house prices and more flexible borrowing criteria than in recent years, which all help affordability.” Colleen Babcock, property expert at Rightmove
Demand
There were 62,584 mortgage approvals in February which is -4% lower than a year ago (Bank of England).
Buyer demand has weakened in March, running 13% below this time last year (Zoopla).
Lettings update
Over the last 12 months, the average rent achieved for homes let in Bristol was £1,560 per month. This is a +2.9% change on the previous 12 month period.
67% of homes let in the past 12 months were flats, achieving an average rental value of £1,417 per month. Houses achieved an average rent of £1,919 per month. 30% of renters are aged Up to 21.
There are currently 5,388 properties available to rent in Bristol which is 97.6% higher than a year ago.
64.7% of homes listed to rent in the past 12 months were flats.
Properties rented in the last month had been on the market for an average of 18 days which is 1.2% longer than a year ago.
Mortgages
Mortgage rates have risen again in recent weeks, largely driven by global uncertainty following the conflict involving Iran. As a result, many of the cheaper deals seen earlier in the year have disappeared, with typical fixed rates now sitting above 5%, making monthly repayments higher for new buyers and those re-mortgaging.
That said, the mortgage market remains very much open for business. While borrowing is more expensive, lenders are still actively lending and competition between banks and building societies is helping to prevent rates from rising even further. Buyers also have more choice in the property market than this time last year, which can help offset higher mortgage costs through stronger negotiating power on price.
For those considering a purchase, the key is affordability rather than timing the market. Rates may stay a little higher while global uncertainty continues, but wages are still rising and price growth has slowed. For many buyers, particularly those with a stable income and a longer‑term outlook, opportunities remain - especially where realistic pricing and flexibility on both sides are helping deals move forward.
Property market outlook
Market outlook for 2026: a more balanced market for buyers
As 2026 progresses, market conditions are becoming more favourable for buyers. Expectations are for steady, manageable growth, supported by improved choice and a market that rewards well‑prepared buyers who understand local values and act decisively when the right property comes along.
We hope that was useful and informative. As always, our teams are here to help, get in touch with any questions about your local property market.
If securing a new mortgage or arranging a re-mortgage is important for you right now, click here to book an online consultation, our mortgage brokers are independent, and their services are free to you.
Finally, if you are (understandably) confused by some of the mixed market reporting, not least by some of the more sensational news reporting each month, click here for some independent insight into how House Price Indexes are compiled.
Sources: Rightmove, Zoopla, On the Market, Dataloft by Price Hubble, Land Registry, ONS National House Price Index, DLUHC.