Confidence Steadies, Realism Returns: Berkshire Market Holds Firm Amid Shifting Buyer Priorities

Confidence Steadies, But Realism Reshapes the Market 

There’s no easy way to say it — the property market isn’t what it was.
But that’s not necessarily a bad thing. We’re in a new, more measured phase, and both buyers and sellers are learning to adapt to what is clearly an evolving landscape.

While the headlines may sound a little uncertain, the reality is far from bleak. Properties are still selling, buyers are active, and transactions are completing — but the process feels more considered. Stock levels are up, buyers are more selective, and sellers are having to rethink their approach.

The Market in Context

Across the country, agents are reporting the same story: more homes on the market, more choice for buyers, and a greater emphasis on value. Negotiations are tougher, offers take longer, and price adjustments are becoming part of the process again.

It’s a shift that’s redefining what “normal” looks like in 2025 — and it’s giving serious sellers an opportunity to stand out through presentation, pricing, and preparation.

A Look Back at Q2

Earlier in the year, confidence began to return following the first signs of rate cuts and a strong start to 2025. That positive sentiment carried through into Q2, though higher stock levels and affordability pressures meant buyers became more discerning.

Interest rates steadied at 4.25%, inflation hovered at 3.4% (still above the Bank of England’s 2% target), and around 30% of homes over £750,000 reduced their asking prices as realism began to return.

Locally, Wokingham held firm. Well-presented homes continued to attract strong interest, proving that when quality and strategy align, the right buyers respond.

Has That Continued Into Q3?

In short — yes, with a few caveats.
Pricing strategy remains crucial, and the market has become far more value-driven.

Rightmove reported a 1.2% drop in asking prices in July and 1.3% in August, while buyer enquiries rose 6% and agreed sales were up 8% year-on-year. The Bank of England’s August rate cut to 4% didn’t spark an immediate shift, as some lenders nudged their mortgage rates back up due to global funding costs.

As always, September brought renewed activity, with listings and offers climbing post-summer.

At the upper end of the market, performance has exceeded expectations. Stock levels are up around 13% year-on-year and nearly 80% higher than in 2022, giving buyers far more choice — and sellers a clear reason to stand out through presentation and realistic pricing.

What’s Really Happening Beneath the Surface

Despite busy activity, there’s more complexity behind the numbers.
Price reductions are at a five-year high, withdrawals have risen for the third consecutive year, and fall-throughs remain above average.

The market is active — but not effortless.
Success today depends on preparation, timing, and the right advice.

Buyers are more value-conscious, and sellers who adapt quickly to that reality are the ones moving forward.

Why It Feels Like a “Recession Market” (Even When It Isn’t)

When we describe today’s market as having a “recession-like feel,” we’re talking about behaviour, not the economy.

Unlike 2008, when lending froze and property values plummeted, banks are still lending — but affordability is tighter. Buyers are cautious, and budgets don’t stretch as far as they once did. That means sellers need to adjust expectations and meet buyers where they are.

This period of adjustment is what gives the market its slightly cautious tone, but it’s also what sets the stage for stability ahead.

How Wokingham Is Performing

According to Land Registry data, sale prices in Wokingham fell 1.8% in Q3, with transaction volumes down 8.33%. While that may sound discouraging, these figures typically lag by several months — often reflecting offers agreed much earlier in the year.

Real-time activity tells a more nuanced story: buyers are still there, but they’re focused on value and presentation. Homes launched at the right price, with strong marketing and professional staging, continue to attract serious interest.

What’s Influencing the Market Right Now

Interest Rates & Cost of Living

Rates aren’t historically high, but compared to just a few years ago, they feel significant. Many homeowners coming off fixed deals are now facing repayments two to three times higher than before. Combined with rising living costs and modest wage growth, this is naturally limiting buyer budgets.

Budget Speculation

There’s also uncertainty ahead of the November Budget. Rumours of housing reforms — from stamp duty changes to possible property tax adjustments — are causing hesitation. These “wait and see” periods tend to create temporary slowdowns, particularly as Christmas nears, though we did see an unusually strong December market last year.

The Time to Complete a Sale

One of the biggest frustrations right now is the time it takes to complete a sale.
What once took 8–12 weeks can now stretch beyond 24.

There are encouraging signs that change may be on the horizon, with the government exploring improvements to the buying process. Proposals include more upfront information, binding contracts earlier, and digital ID systems to streamline conveyancing.

If implemented well, these changes could bring much-needed efficiency — saving time, money, and stress for everyone involved.

Looking Ahead

As we move into the final quarter of the year, the message remains consistent: the market is steady, but price-sensitive.

With speculation surrounding the Budget and the broader economic landscape still adjusting, realism will remain key. Sellers who understand this — and who invest in presentation and marketing — will continue to achieve successful outcomes.

At Wixenford, we’re seeing this first-hand. The homes that sell best today are those that have been positioned correctly from day one — priced strategically, beautifully presented, and marketed with care.

In Summary

The property market across Berkshire and Wokingham has entered a new phase — one defined by realism, strategy, and a focus on value.

While the pace may be slower than in previous years, the opportunities are still there for those who approach it with the right mindset and preparation.