Why Waiting for a "Better Time" to Move Might Be a Mistake, November 2026 Inflation & Affordability Update
Everyone says you should wait for things to "calm down" before thinking about a move, but what if I told you that standing still is actually costing you more than jumping in?
I’m David Hallas, and I’ve spent the morning chatting with neighbours about why their weekly shop feels like a workout for their bank accounts. Have you noticed that even when your boss gives you a little extra in your pay packet, you somehow still feel a bit lighter in the pocket by the time you've filled up the car or bought the Sunday roast?
That’s because of something called inflation—currently sitting at 3.6%. Think of inflation like a "price ghost." You can’t see it, but it’s busy creeping through the aisles of the supermarket, adding a few pennies to the bread, a bit more to the milk, and a chunk to your energy bills. This month, that ghost is a bit more active than it was in October, when it was only at 3.3%.
The Hidden Squeeze
Did you know that while most people's pay has gone up by 3.1% this year, things are actually getting tougher? It sounds like a win—more money, right? But here is the tricky bit: because prices are rising by 3.6% (inflation) and wages are only growing by 3.1%, we are all technically falling behind by about 0.5%.
In simple terms: if your pay went up by £31, but your shopping went up by £36, you’ve actually lost a fiver. We call this "negative real wage growth," but you probably just call it "why is everything so expensive?"
What this means for your next home
Because our money isn't stretching as far at the checkout, it’s also stretching less when we talk to the bank. If you are looking to move or get a new mortgage, the bank is looking at those grocery bills too.
The Bank of England has kept the "cost of borrowing" (the base rate) at 3.75%. Because prices are rising faster than pay, people have less "spare" money at the end of the month. This is why we've seen the number of people getting their mortgages approved drop from over 58,000 in the summer to about 53,400 this month. People are being a bit more cautious.
However, house prices haven't zoomed off. The average price across the country is £288,411, which is only a tiny bit higher (0.5%) than it was this time last year. Back in July, prices were growing much faster. This "slowdown" is actually a bit of a silver lining for buyers, as it means you aren't chasing a target that's moving too fast to catch.
Bringing it home to null
Even though these are big national numbers, we feel them right here in the high streets of null. When inflation bites, it affects what our local buyers can afford to bid on a new home.
In null, we have a "balanced market" right now. With 249 homes for sale and about 22 selling every month, there isn't a mad rush, but things are moving steady. Because the average price here is higher than the national average at £740,798, that 0.5% squeeze on wages feels very real when people are calculating their monthly budgets. Landlords are also feeling the pinch as the cost of fixing a leaky tap or painting a room has gone up, which often leads to rents ticking upwards too.
A Look Ahead
It’s easy to feel a bit grumbly when the numbers show we’re all working harder for slightly less "buying power." But remember, the property market is a marathon, not a sprint. In null, home values have grown by over £108,000 in the last seven years. Even when things feel a bit tight month-to-month, owning a roof over your head has historically been a very safe place to be.
Keep an eye on that "price ghost," but don't let it scare you out of your future plans. If you have questions about how these numbers affect your specific street, I’m always around for a cuppa and a chat!