The clocks have gone back, the evenings are drawing in, the weather has turned noticeably colder and, as we move towards the end of another year, people’s attention naturally begins to drift towards other priorities.
Inevitably, some of that change in mood is reflected in the property market.
We’re beginning to see the familiar signs of a seasonal slowdown, perhaps a little earlier than we’d ordinarily expect. Usually, it’s later in November or even December when things become noticeably quieter, but this year it feels as though buyers and sellers are already beginning to take stock and look towards 2027. Perhaps that’s partly a consequence of the late October Budget, which appears to have dampened activity in the run-up without doing much to reinvigorate the market afterwards.
In any case, though, there’s an important distinction between a market that is slowing down seasonally and one that is struggling.
Here in Edgware, despite a challenging year, the market has actually performed rather well – relatively speaking, I should add.
Let’s have a look…
Edgware Has Bucked the London Trend
There’s no disguising the fact that the wider London property market has faced considerable challenges in 2026.
According to the latest official House Price Index figures, average London property prices fell by 2.2% in the year to August, compared with modest growth nationally.
Edgware, however, has demonstrated rather more resilience.
Over the past 12 months, average property prices locally have increased by 3%, reaching £512,491.
That’s a respectable performance in the circumstances, and especially as so many London postcodes have conversely seen prices drop.
We’ve seen 519 property transactions over the same period, representing a decline of 8% compared with the previous year. It is a drop, obviously, but it is not huge decline. A hit, but not something that will derail this year’s property market. Sellers have been selling and people have been moving.
Indeed, there’s little to suggest that the wider challenges have fundamentally undermined people’s appetite to move home in Edgware. Over the past year, 1,990 properties have been listed for sale locally, and there are currently 616 homes available to buy.
That represents around 10% fewer available properties than at the same point last year – but perhaps reflective of a similar drop in buyer demand too – which means not a particular imbalance from that perspective.
In other words, whilst the market has certainly become more challenging, people are still buying and selling homes.
But there’s another statistic that deserves considerably more attention.
107 Days to Sell a Home
Back in May, the average time taken to agree a sale on a property in Edgware was just 47 days.
By October, that figure had risen to 107 days.
That really does look like a quite extraordinary change in a relatively short period, more than doubling in less than half a year.
It means that, on average, sellers are now waiting more than three months to secure a buyer, compared with around six or seven weeks earlier in the year.
It’s a considerably longer marketing period than we’re seeing in many other parts of London and the country. For me, this is the most important statistic in the entire local market report.
Buyers haven’t disappeared, as we can see from transaction numbers reaching Land Registry.
But this particular number demonstrates just how important it has become to get the fundamentals right when bringing a property to market.
And the most fundamental of all most certainly comes down to price.
The Danger of Overvaluing
When the market is particularly buoyant, an ambitious asking price can sometimes be forgiven.
If buyers are competing for limited stock, properties can attract interest even when they’re priced towards the upper end of expectations.
But that is simply not the market we’re operating in today.
Buyers have become more considered. They’re comparing properties carefully, weighing up mortgage costs and affordability, and taking their time before committing. We’ve just had a Bank Rate increase, now 4%; if anything should convince sellers to really take stock, that is a pretty powerful signaller. Inflation is stubborn, and interest rates have had to follow upward.
If a property is overpriced in buyers’ minds, many will simply move on. Some may try to negotiate, but sellers are often reluctant to engage, particularly when their expectations differ significantly from what buyers are prepared to offer. And when the economic outlook is uncertain, committing hundreds of thousands of pounds to a property purchase is a significant financial decision. We shouldn’t pretend otherwise.
The danger for sellers is that an optimistic asking price can become counterproductive.
A property sits on the market, the initial burst of interest fades, and eventually buyers begin to wonder why it hasn’t sold.
Price reductions may follow, but by then the property can lose the momentum that a well-judged launch might have generated.
This is why realistic pricing is so important.
It isn’t about undervaluing someone’s home or encouraging them to accept less than it’s worth.
It is about understanding what buyers are prepared to pay in the market as it exists today, rather than the market any seller might wish we were operating in.
And with average marketing periods now exceeding 100 days, that distinction becomes all the more pointed.
Fewer Buyers, But More Serious
As we approach the end of the year, we’re likely to see fewer people actively searching and fewer sellers deciding to launch their properties.
That really is a normal seasonal pattern, and it gets talked up but with forty years and more in the property business, we have learned that it really isn’t something to fear.
That is not due to apathy or complacency on our part; it is due to an interesting counterpoint.
Those buyers who continue viewing properties at this time of year are often amongst the most motivated.
Likewise, sellers who remain committed to moving may be particularly open to sensible conversations with serious purchasers.
Whilst the volume of activity might decline, there can still be excellent opportunities for those who are ready to proceed.
For others, perhaps with less pressing reasons to move within a particular timeframe, there’s nothing wrong with preparing for a New Year move.
A valuation, an honest discussion about pricing and a properly considered marketing strategy can put sellers in a much stronger position when activity begins to pick up again.
Edgware has shown its resilience throughout 2026. Prices have held up, transactions have continued to come through, and the underlying desire to move home remains.
The market has changed – as it always does. Maybe a couple of weeks earlier than normal – but nothing that causes us concern.
Our principal concern for those selling right now is their approach to pricing.
There are still buyers out there, and the challenge isn’t finding them. It is giving them the right reasons to choose your property over the alternatives.