Summer 2026
Issue 19
Horton and Garton Estate Agents
In this edition of West London Property News, we look back on a second quarter in which sales agreed across our offices rose, even as the national conversation remained focused on a cooling market. We also consider what home movers can expect over the coming months.
A more selective market
Nationally, the picture has been mixed. Rightmove recorded its steepest June asking-price fall in fourteen years, while Nationwide’s figures told a steadier story, with annual price growth picking up to 2.2%. Mortgage rates have continued to edge down as lenders compete for business, despite the Bank of England holding Bank Rate at 3.75% in June.
Locally, the story has been more encouraging. Buyer registrations are down, but those still active are converting at a noticeably better rate, while the property listings we’ve brought to the market have kept pace with demand.
The second quarter of 2026 has been a period of recalibration rather than retreat. Our area moved ahead of much of the market earlier in the year, so a period of adjustment now isn’t a surprise, and it doesn’t change our confidence in the fundamentals of West London.
John Horton, Owner and Director
With the largest share of sales agreed across Hammersmith and Shepherd’s Bush, and the second-largest share in Chiswick over the first six months of 2026, according to Rightmove sale agreed data, our data gives us a useful live read on the local market. The figures that follow are drawn from that position, combining our own office performance with wider Rightmove market data.
SALES
Fewer buyers, but serious buyers remain active
Data from across our West London offices shows that new buyer registrations fell 7% quarter on quarter and by a more marked 45% compared with the same period last year.
On paper, that looks like a market in retreat. The reality is more positive: sales agreed were up 47% on Q1 and 14% higher than the same quarter last year. Given the fall in registrations, this points to a stronger rate of conversion among today’s buyers.
Buyers have more choice than they’ve had for some time. Concern about further rate rises has eased, but that has been replaced by caution over the cost of repairs and refurbishment. June normally carries the momentum of the spring market, but this year it slowed to a summer pace earlier than usual. This is a market becoming more selective.
Ashley Clements, Managing Director.
Our achieved prices averaged 98% of asking price across Q2 sales, a sign that realistic pricing continues to pay off. Houses listed for sale with us rose 30% quarter on quarter and 10% year on year, giving buyers considerably more choice than they have had for some time.
Nationally, Rightmove reported that the number of homes for sale remains high by recent standards, with sellers facing more competition for buyer attention. Locally, the increase in houses listed with us has been more pronounced, reinforcing the sense that buyers in our market now have considerably more choice.
In many parts of the market, flats have seen limited capital growth over the past decade, which has made the step up from flat to house ownership harder for some buyers. Realistic pricing is still winning results, though, and well-presented homes in Chiswick are finding buyers quickly.
Louise Jones, Sales Manager, Chiswick
According to Rightmove’s half-year data on resale properties across our core West London markets, our Hammersmith and Shepherd’s Bush office ranks first for new instructions, with a 7.6% market share, and first for sales agreed, with a 12.4% share, up from 8.1% at the same point last year. Our Chiswick office ranks second for sales agreed, with an 8.2% share, up from 2.9% in 2025.
Shepherd’s Bush continues to appeal to buyers looking for more space and relative value within West London, particularly where homes offer good transport links, period character or family-friendly layouts.
The Hammersmith market performed strongly earlier in the year when other areas didn’t, so June’s slight plateau feels like a natural readjustment rather than a warning sign. Buyers here remain engaged, but they are more considered about what they are taking on.
George Smith, Sales Manager, Hammersmith
The difference now is that buyers are scrutinising condition more closely. Homes requiring work are still selling, but only where the asking price properly reflects the cost and complexity of refurbishment.
There are early signs, too, that the pace of selling may be shifting. Just over half of our Q2 sales were agreed on properties that had been on the market for less than two months, down slightly from Q1. It is a point worth watching, rather than a confirmed trend at this stage.
LETTINGS
A more balanced rental market
The lettings market has entered a more measured phase after several years of exceptional rental growth, but demand continues to outstrip the supply of available homes.
Tenant registrations rose 37% quarter on quarter, although they remained 13% below the same period last year. New instructions from landlords doubled quarter on quarter but remain 23% lower year on year, as many landlords continue to weigh up the legislative and cost changes reshaping the sector.
While rental growth has moderated from the exceptional pace seen in recent years, rents continue to rise across much of West London as the shortage of quality rental property persists.
Stock remains limited and quality rental homes continue to attract strong interest. Although the pace of rental growth has become more sustainable than in recent years, demand still exceeds supply in many parts of West London, meaning well-presented properties continue to let quickly.
Alliyah Shah-Bains, Lettings Manager.
Properties let significantly faster in Q2 than in Q1, while letting speeds remained broadly in line with the same period last year. National rental supply remains constrained, with the usual seasonal uplift in available homes still falling short of what many tenants need. Locally, that continues to support well-priced, well-presented rental homes.
For landlords, achieving the strongest possible rental level remains an important objective, but the Renters’ Rights Act has shifted the conversation.
With rents now generally reviewed only once a year and bidding above the asking price no longer permitted, many landlords are placing greater emphasis on setting the correct rental level from the outset.
Alongside this, securing high-calibre tenants, minimising void periods and ensuring tenancies are structured correctly under the new legislation have become equally important priorities.
REGULATORY UPDATE
The Renters’ Rights Act: Early market impact
The main tenancy reforms under the Renters’ Rights Act came into effect on 1 May 2026, abolishing Section 21 no-fault evictions, moving assured tenancies onto a rolling periodic basis, and banning rental bidding wars.
It is the most significant reform to the private rented sector since the late 1980s, and its effects are already visible in the market.
Early indications also suggest some landlords are choosing to launch properties at higher initial asking rents, reflecting the new annual rent review framework and the removal of competitive bidding above the advertised rent.
The new twelve-month protected period has deterred some homeowners who might otherwise have let a property temporarily, but who do not want to commit to renting long term. We also saw a number of notices served by landlords who might otherwise have waited until a break clause before acting. We’re working closely with landlord clients as they adjust.
Aggie Tukendorf, Lettings Director.
For landlords still adjusting, the message remains clear: the fundamentals of the market are sound, but the agents best placed to help are those who understand the detail of the changes, not just the headlines.
LOOKING AHEAD
Looking ahead, home movers are likely to watch the Bank of England’s next decision on 30 July closely, together with early anticipation of the Chancellor’s Autumn Budget. For now, mortgage rates have continued to edge down at high street level, offering genuine support to affordability regardless of what the Bank of England decides in the coming weeks.
For sellers especially, the tactics that worked earlier this year may need to shift as we enter the typically quieter summer holiday period. Online activity was particularly effective while the market was at its most active, but with buyer numbers easing over summer, a more considered approach may serve sellers better than relying on the same channels alone. This can be a useful window to test the market away from the seasonal rushes, provided the pricing is realistic from the outset.
As we move through the coming months, we expect a smaller pool of highly motivated buyers and tenants, with realistic pricing rewarded quickly.
To discuss your next move with Horton and Garton, please get in touch.
