The Bank of England has delivered a well-timed boost to the UK property sector today by reducing the base rate to 3.75%. This is not just a minor adjustment. It is a clear signal that the economic “winter” is beginning to thaw.
For those of us who have spent decades navigating the peaks and troughs of the British housing market, this feels very much like the starting pistol for a significantly more active 2026.
After a year defined by caution and a widespread “wait and see” approach from buyers, today’s announcement acts as a vital psychological catalyst. In the UK, sentiment is often just as powerful as the numbers themselves.
We are already seeing the high street lenders, including the likes of Nationwide and Santander, preparing to sharpen their pencils for a potential mortgage war in the New Year. Competition may remain measured rather than dramatic, but even incremental improvements can materially change buyer behaviour.
For many homeowners who have been stuck on high fixed rates, or first-time buyers who felt priced out altogether, this decision helps unlock stalled plans. When confidence returns to the system, everything connected to it responds. As optimism returns to the British public, activity tends to follow across the entire chain.
For RPSA members and the wider surveying community, this shift is likely to lead to a “Boxing Day Bounce” in enquiries. As the market begins to move, our role becomes even more critical.
In an environment where buyers are stretching their budgets to get back into the game, the value of a proper, hands-on survey cannot be overstated.
In the UK, we do not rely solely on high-tech wizardry favoured elsewhere. We rely on the Mark I Eyeball, a sturdy set of ladders, and decades of understanding how British damp, timber and masonry actually behave in the real world.
As volumes increase, our commitment to professionalism and the action-based reporting that RPSA stands for will become the industry benchmark. This is where standards, experience and independence truly matter.
To place this decision in context, the table below summarises current market conditions and their practical impact on surveying practice.
Lending Environment
Current condition: Base rate at 3.75%. Two-year fixes are now dipping below five-year rates.
Impact on surveying practice: Expect a surge in instructions as stalled sales finally progress to exchange.
New Build Sector
Current condition: High pressure on developers for year-end completions under NHQB standards.
Impact on surveying practice: Increased focus on independent snagging. Do not allow rushed finishes to conceal structural defects.
Buyer Psychology
Current condition: Shift from fear of overpaying to fear of missing out.
Impact on surveying practice: Surveyors must provide calm, straightforward advice to prevent emotional over-commitment.
Professional Capacity
Current condition: A resilient but tired workforce after a challenging 2025.
Impact on surveying practice: Now is the time for firms to prepare and review capacity for the expected Q1 surge.
Looking ahead to 2026, there is genuine reason for optimism. The RPSA has worked hard throughout the past year to support its members, and we are entering a period where professionalism, experience and independence are likely to be valued more than ever across the built environment.
The sector has navigated a challenging twelve months, but confidence is beginning to return. As it does, activity tends to follow across the wider housing market, creating opportunities for those who are prepared and well-positioned.
I hope everyone finds time to put the ladders away and enjoy a well-earned break with family and friends. RPSA members continue to play a vital role in helping people make informed decisions about their homes. Let’s return in January with a renewed sense of purpose and optimism for the year ahead.
Merry Christmas, everyone, and a happy and prosperous New Year!
Oh - and talking New Year - 14 May 2026 - save the date, all will be revealed soon.
Cheesy overview below....
