Half of Homes in Great Britain Taking Longer to Sell as Mortgage Volatility Bites
The Guardian · 18 August 2026
TL;DR
Property platform Zoopla reports that homes in 180 of 363 local authorities across England, Scotland, and Wales are taking longer to sell than a year ago, driven by mortgage market volatility linked to the ongoing Iran conflict. The national average selling time holds steady at 42 days, but a sharp regional divide has emerged. Scotland dominates the fastest-selling markets — Falkirk leads at just 11 days — while areas like Melton in the East Midlands and Westminster in London average over two months. The average two-year fixed mortgage rate has climbed to 5.61%, up from 4.83% before the conflict began in late February, peaking near 6% in April. Financial markets are pricing in two further Bank of England rate increases before end-2027.
Our take
While this data is firmly UK-focused, South African property professionals and investors with exposure to rand-hedge assets or offshore property should take note of the broader dynamic at play: when mortgage rate uncertainty spikes, buyer confidence stalls — even in markets with underlying demand. This is a pattern SA buyers and sellers know well from the post-COVID rate cycle, where the prime lending rate climbed sharply and transaction volumes softened despite continued listing activity. For SA landlords and buy-to-let investors, the UK slowdown is a useful reminder that yield calculations shift quickly when financing costs move. Locally, the SARB's rate trajectory remains a key watch point — any upward surprise could produce a similar 'wait-and-see' buyer behaviour in Johannesburg, Cape Town, and Durban markets. For agents, the Zoopla finding that national averages can mask sharp local divergence is directly applicable here: Sandton and the Atlantic Seaboard may clear stock in weeks while secondary markets sit for months. Pricing strategy and realistic seller expectations matter more than ever in a rate-sensitive environment.
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This is Liivra's summary + take. The full story lives at The Guardian.
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