IS THE PROPERTY MARKET REALLY FALLING? WHAT WE’RE ACTUALLY SEEING IN POTTERS BAR

Wednesday September 16, 2026

September 2026 Property Market Update

If you have been following the property news over the last few weeks, you could be forgiven for thinking that the housing market has suddenly taken a significant turn for the worse.

Headlines about falling house prices, higher mortgage rates and slowing sales have once again appeared across the national press.

But is the property market really falling?

The answer is more complicated.

At Auckland Estates, we have been selling homes in Potters Bar and the surrounding areas for more than 40 years, and one thing we have learned is that national headlines rarely tell the whole story of what is happening in an individual local market.

What we are seeing at the moment is not a market without buyers.

It is a market where buyers are more cautious, more price-conscious and have considerably more choice than they did a few years ago.

And that distinction is extremely important for anyone thinking of selling their home this autumn.

HOUSE PRICES ARE UNDER PRESSURE – PARTICULARLY IN THE SOUTH

There is no point pretending that the market hasn’t become more challenging.

The latest national data shows a clear divide between different parts of the country, with London and the South of England experiencing greater pressure on prices than many northern regions.

Zoopla’s August House Price Index shows UK house price growth slowing to just 0.9% annually, with prices flat or falling across much of southern England. There are also around 5% more homes available for sale than a year ago, meaning buyers have more choice.

Rightmove has subsequently revised its forecast for 2026 and now believes average UK prices could finish the year somewhere between 0% and 2% lower. Importantly, Rightmove also stresses that this is a national forecast and that individual local markets can perform very differently.

For sellers in Potters Bar, that distinction matters.

Our market is influenced heavily by London, commuting patterns, schools, affordability and the supply of particular types of property. A national house-price figure can therefore never tell you exactly what your individual home is worth.

BUT BUYERS HAVEN’T DISAPPEARED

This is perhaps the most important part of the current market.

Despite the negative headlines, there is still significant buyer activity.

In fact, Zoopla reports that searches for homes are now 7% higher than they were a year ago, representing the strongest annual increase for 12 months.

Even more relevant locally, buyer searches are up 8.9% across the South East and 8.5% across the East of England.

Rightmove has also reported a noticeable September bounce.

Buyer demand increased by 5% nationally during the first week of September, compared with an average increase of just 0.4% during the same period over the previous five years.

The South East recorded a 6% increase in buyer demand during that opening week of September, while London recorded an even larger 9% increase.

So the problem isn’t that buyers have disappeared.

The challenge is converting that interest into agreed sales.

WHY ARE BUYERS BEING MORE CAUTIOUS?

The biggest factor continues to be affordability.

Mortgage rates remain significantly higher than many buyers had become accustomed to, and that directly affects what someone can afford to pay for a property.

Zoopla estimates that higher mortgage rates have reduced buyers’ purchasing power by around 9% since January.

Rightmove’s latest mortgage data puts the average two-year fixed mortgage rate at around 5.06%, based on data from 4 September.

That makes a substantial difference to monthly repayments, particularly in higher-value areas such as Potters Bar and the surrounding Hertfordshire and North London market.

A buyer who may have comfortably considered a certain price range at the beginning of the year may now have to reassess their budget.

At the same time, buyers have more properties to choose from.

Put those two things together and buyer behaviour changes.

They compare properties more carefully.

They take longer to make decisions.

They negotiate harder.

And, crucially, they are far less likely to overlook an asking price that appears unrealistic.

THE GAP BETWEEN ASKING PRICE AND MARKET VALUE

This is where we believe one of the biggest misunderstandings in the current market lies.

There is a significant difference between putting a property on the market and actually selling it.

When property prices are rising rapidly and stock is limited, sellers can sometimes afford to test the market with an ambitious asking price.

The current market is different.

Buyers can open Rightmove or Zoopla and instantly compare your home with numerous alternatives. They can see price reductions. They can see how long properties have been advertised. And they can look at comparable sold prices.

This means pricing correctly from the beginning has become increasingly important.

A property that represents good value can still generate strong interest and competition.

A property that is priced noticeably above the market can sit online while buyers simply move on to the next one.

WHAT WE’RE SEEING IN POTTERS BAR

The Potters Bar market remains active.

We continue to speak to buyers looking for family homes, first-time purchases, investment properties and homes within easy reach of local schools and transport links.

But buyers are behaving differently.

There is more consideration before offers are made and significantly greater awareness of value.

Properties that are presented well, marketed properly and realistically priced are attracting attention.

Those launched at an overly ambitious price are finding the market considerably less forgiving.

This doesn’t necessarily mean accepting a low price for your home.

Quite the opposite.

Correct pricing is about achieving the best possible price the market will support – not simply choosing the highest asking price.

There is an important difference.

BEWARE OF THE HIGHEST VALUATION

This is particularly relevant when choosing an estate agent.

When three agents value a property, it is naturally tempting to instruct the agent who suggests the highest figure.

But a valuation isn’t an offer to purchase your home.

The real question isn’t:

“Which agent says my house is worth the most?”

It should be:

“Which agent can demonstrate why my property should achieve that price?”

That means looking at comparable evidence, recent sales, current competition, buyer demand and – importantly – whether that agent already has genuine buyers looking for your type of property.

An inflated asking price might win an instruction.

It doesn’t necessarily sell a house.

THERE ARE EARLY SIGNS THE MARKET MAY BE STABILISING

There are also reasons to be cautiously positive about the months ahead.

The latest Royal Institution of Chartered Surveyors Residential Market Survey showed that buyer demand and agreed sales improved again during August.

The measure of new buyer enquiries reached its strongest level since January, while agreed sales also recorded their least-negative reading since February.

RICS described the market as showing further signs of stabilisation, although it cautioned that any recovery remains fragile.

That broadly reflects what we are seeing.

This isn’t a booming market.

But neither is it a market that has stopped functioning.

There are buyers.

There are viewings.

There are offers.

And there are sales being agreed.

The difference is that sellers need to approach the market realistically.

SHOULD YOU SELL NOW OR WAIT?

This is probably the question we are being asked most often.

Unfortunately, there isn’t one answer that applies to every homeowner.

Waiting for the “perfect market” can mean waiting indefinitely.

Mortgage rates may fall in the future. Buyer confidence may improve. Prices may strengthen.

But more sellers could also decide to enter the market, increasing competition. Economic conditions can change and mortgage pricing can move in either direction.

The better question is therefore not necessarily:

“Is now the perfect time to sell?”

It is:

“If I put my property on the market now, what is the realistic price it could achieve and what level of demand exists for my type of home?”

That is something a good local estate agent should be able to answer.

OUR ADVICE TO POTTERS BAR SELLERS THIS AUTUMN

If you’re considering selling during the remainder of 2026, our advice is straightforward.

Don’t be frightened by national headlines, but don’t ignore the market either.

Make sure your valuation is supported by evidence.

Look carefully at what has actually sold rather than simply looking at the asking prices of properties currently advertised.

Present your home properly.

Use high-quality photography and marketing.

And most importantly, launch at a price that gives buyers a reason to arrange a viewing.

The first few weeks of marketing remain incredibly important. A new property creates interest and urgency amongst registered buyers.

That opportunity shouldn’t be wasted by spending the first six or eight weeks testing an unrealistic price before eventually reducing it.

THINKING OF SELLING IN POTTERS BAR?

Auckland Estates has been selling property in Potters Bar since 1983, making us the longest-serving independent estate agent in EN6.

Our team combines more than 40 years of local market knowledge with modern marketing and an extensive database of active buyers.

If you’re considering selling, moving or simply want to understand what your property could realistically achieve in the current market, speak to us.

We can provide an up-to-date valuation based not simply on national statistics or an online algorithm, but on recent comparable sales, current competition and the buyers actively looking for property in Potters Bar right now.

Because in a changing market, knowing the difference between an asking price and a selling price has never been more important.