UK house prices fell by 0.5% in March, according to Halifax’s latest House Price Index. This wobble that has been linked to wider uncertainty caused by the Iran war and its knock-on effect on inflation expectations and mortgage pricing. As a conveyancing solicitor, I’m often asked the same question whenever the market shifts: is now the right time to buy?

The honest answer is that there is rarely a single “right” moment that suits everyone. But a dip in prices can create opportunities, particularly for first-time buyers or those with a sale already agreed, provided you go in with your eyes open about affordability, timescales and the legal steps involved.

What does a 0.5% monthly fall actually mean?

A 0.5% fall month-on-month is enough to make headlines, but it doesn’t necessarily mean the market has “turned”. Halifax reported this as the first monthly fall of 2026, following increases earlier in the year. The Halifax index also suggests annual growth has slowed to around 0.8%.

It’s also worth remembering that any national index is a snapshot. In practice, we see significant variation by region, property type and price bracket, and the figure that matters most is the price a buyer is prepared to pay and a lender is prepared to support. Asking prices, agreed sale prices and completed prices can all move at different speeds.

Why does international uncertainty affect UK house prices?

Most home moves are driven by life events such as growing families, job changes, downsizing but confidence still matters. When geopolitical events raise concerns about energy prices and inflation, mortgage rates can respond quickly. Even modest rate movements can change affordability calculations, which may lead some buyers to pause, renegotiate, or reduce what they are willing to offer.

If you’re thinking of buying: practical steps that help in a shifting market

  • Get your finances lined up early. A mortgage agreement in principle is a good start, but also budget for survey fees, moving costs and Stamp Duty Land Tax (where applicable).

  • Be ready to move quickly once your offer is accepted. Have ID and source-of-funds information to hand. Anti-money laundering checks are a legal requirement and delays can slow everything down.

  • Don’t skip the due diligence. If you are negotiating on price, it can be tempting to rush. Searches, enquiries and a proper survey are there to reduce risk, not create “red tape”.

  • Be realistic about timescales. Chains, management packs for leasehold properties and lender requirements can all affect how quickly you can exchange and complete.

If you’re selling: how to protect your sale if buyers become cautious

When the news cycle is unsettled, buyers may be more sensitive to any uncertainty within the transaction itself. From a conveyancing perspective, the smoother the legal process, the easier it is to maintain momentum and avoid last-minute renegotiations.

  • Instruct your conveyancer early. We can review title documents and flag potential issues before a buyer’s solicitor raises them.

  • Gather key paperwork now. Guarantees, planning documents, building regulation sign-off and certificates (where relevant) can be crucial.

  • Leasehold? Management information can take time. Ordering the management pack early often prevents avoidable delays.

  • Be responsive. Quick answers to enquiries keep confidence high, especially where a buyer is watching mortgage rate movements.

So… is now the right time to buy?

A short-term dip in prices can be helpful if you’re negotiating an offer, but it’s only one part of the picture. The bigger issue for many buyers is the cost of borrowing and the risk of delays while mortgage products and rates are changing.

If you have a stable deposit, a mortgage offer you are comfortable with, and you’ve found a property that suits your needs, a softer market can work in your favour. If, however, affordability is tight or your plans are flexible, it may be sensible to take advice and proceed cautiously.

How we can help

Whether you’re buying, selling, remortgaging or dealing with a leasehold property, good conveyancing is about more than forms and signatures. It’s about identifying legal risk early, keeping the transaction moving, and making sure you understand what you are committing to before you exchange contracts.

If you’d like to discuss your move, Farleys’ conveyancing team can guide you through the process with clear, practical advice. Get in touch today on 01254606008 or complete our online contact form. Alternatively, for an instant quote, you can use our online quote generator using the button below.

This article is for general information only and is not financial advice. Your circumstances, your mortgage product and the property itself will all affect what is right for you.