Buyer searches on Zoopla are running 7 percent above last year, but the portal says higher mortgage rates have still slowed sales and pushed annual UK house price growth down to 0.9 percent.
The August House Price Index says agreed sales remain 6 percent below a year earlier and that average five-year fixed mortgage rates have climbed from below 4 percent in January to about 4.8 percent. Zoopla says that change has cut typical borrowing power by 9 percent, meaning a buyer who could once borrow £200,000 on a given monthly budget may now be closer to £182,000.
That leaves landlords weighing two forces at once as the autumn market approaches. Demand is picking up again after a quieter summer, but the figures show pricing power remains limited in many areas, especially where mortgage costs are squeezing owner-occupiers and investors alike.
Higher mortgage rates keep a lid on prices
Zoopla says buyers would now need an extra £18,200 deposit on average to keep the same borrowing level they could access at the start of the year. In London the gap is far wider at £35,500, while in the North East it is £10,200.
That regional spread matters for landlords judging where value may open up this autumn. Prices are flat or falling across much of southern England, with London down 1 percent year on year and the South East down 0.3 percent, while growth remains firmer in the North West at 3.1 percent and the North East at 2.5 percent.
This follows Landlord Knowledge’s report on Zoopla data showing three in five homes listed since January were still unsold, which pointed to stubborn pricing gaps in parts of the sales market. The latest index suggests more buyers are returning, but only where prices still reflect tighter mortgage affordability.
Search rebound does not yet mean a faster market
Zoopla says this is the first time since August 2025 that buyer searches have risen across every UK region and country. The strongest annual gains were in the South East and East of England, while the North West recorded the smallest rise.
Even so, the portal says search growth is only an early demand signal and may take time to feed into enquiries and agreed sales. Sellers are also returning, with total stock 5 percent higher than a year ago, which should give buyers more room to negotiate.
Landlords watching for buying opportunities will also note Zoopla’s warning that late August and early September usually bring more price reductions as vendors reset expectations ahead of the autumn market. That mirrors Landlord Knowledge’s earlier coverage of transaction churn and pricing pressure, which found activity can recover even when affordability remains tight.
Zoopla said motivated sellers will need to price carefully because buyers have more choice and remain sensitive to borrowing costs.
What this means for landlords
- If you’re buying this autumn: softer price growth and rising stock may create more room to negotiate, particularly in southern markets.
- Watch for: further late-summer price cuts if sellers adjust to mortgage rates staying nearer 5 percent than 4 percent.
- Bottom line: demand is improving, but this is still a price-disciplined market rather than a broad rebound.
Editor’s view
Zoopla’s numbers look better than a month ago, but they do not point to a market racing away. For landlords, the practical takeaway is simple: autumn may offer more choice, but only disciplined buyers are likely to come out ahead.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 27 August 2026
Sources: Zoopla for Business August 2026 House Price Index
Related reading: Zoopla says 3 in 5 homes listed since January are still unsold
