As we stand on 31st March 2026, the housing market narrative is certainly unique. Recent global events, coupled with domestic financial adjustments, are creating an environment that requires careful consideration from both buyers and sellers.

Global Tensions and Their Impact

One of the most significant external factors impacting global markets, and by extension, our own, has been the US-Israeli military action against Iran, which commenced on 28th February 2026. This geopolitical tension has sent ripples through international finance, leading to a degree of uncertainty that inevitably influences investor confidence and market stability. Furthermore, the closure of the Strait of Hormuz has added another layer of complexity, impacting global trade routes and energy prices, which can have a knock-on effect on broader economic conditions.

Mortgage Market Movements

Closer to home, the mortgage market has seen some notable changes this March. We've observed mortgage rates rising above 5%, with several products being withdrawn from the market. This tightening of lending conditions can understandably cause concern for prospective buyers, particularly those looking to secure a new fixed-rate deal. It's a reminder that the cost of borrowing remains a critical component of affordability and market activity.

Despite these movements in mortgage rates, the Bank of England made a decision on 19th March to hold the base rate at 3.75%. This decision, while offering some stability, doesn't negate the impact of lenders adjusting their own product offerings in response to their funding costs and risk assessments. For many, the question now is how these fluctuating rates will affect their plans to move or invest.

Buyer Confidence and Market Activity

The Royal Institution of Chartered Surveyors (RICS) recently reported a decline in buyer enquiries, now standing at -26%. This figure suggests a cooling in demand, which is a natural consequence of higher borrowing costs and broader economic anxieties. It's a clear indicator that buyers are becoming more cautious, taking longer to make decisions, and perhaps waiting for more favourable conditions to emerge.

What This Means for You

So, what does this mean for you, whether you're a family looking to upsize, downsize, or simply relocate? It means that expert guidance is more valuable than ever. While the headlines might paint a picture of chaos, the reality on the ground is often more nuanced. Properties are still selling, and families are still moving, but the approach needs to be strategic and well-informed.

At Courtyard, we pride ourselves on being Experts in selling family homes. We understand that every family's situation is unique, and navigating the current market requires a professional, warm, and honest approach. We're here to help you understand the local market dynamics, price your home realistically, and present it in the best possible light to attract serious buyers. For those looking to buy, we can offer insights into current market trends and connect you with trusted mortgage advisors who can help you explore your options.

The market in March 2026 is certainly presenting its challenges, but with the right advice and a clear strategy, it's still possible to achieve your property goals. We believe in providing clear, honest, and approachable guidance, ensuring you feel confident and supported every step of the way.

Looking to sell your home? Arrange a chat with Sam today.