The Tug-of-War in Your Wallet, April 2026 Inflation & Affordability Update
Morning, neighbour! It’s Luke Readings here. I was chatting with someone at the shops yesterday who told me, "Luke, surely nobody is buying houses right now because everything is just too expensive." It’s a common myth—the idea that because the price of milk and eggs has gone up, the dream of moving house has been completely shelved.
But the reality? The property market is currently a bit like a game of tug-of-war. On one side, you’ve got the rising cost of living pulling hard, but on the other side, your pay packet is starting to pull back even harder.
Think of it like a long-distance bike ride. Inflation is the "headwind"—the invisible force pushing against you, making you pedal harder just to stay in the same place. Right now, that headwind (which we call the CPI inflation rate) is sitting at 3.2%. Did you know that when this number is positive, it means that for every £100 you spent last April, you’d need about £103.20 today just to buy the exact same stuff? Whether it’s filling up the car or grabbing a coffee, your money doesn't stretch quite as far as it used to.
The Good News: You’re Pedalling Faster
Here is the "aha!" moment: while prices are going up by 3.2%, the average person's pay is actually growing by 4.1%.
Because your wages are growing faster than the cost of things in the shops, you are actually winning the tug-of-war. In simple terms, you have about 0.9% more "spending power" than you did a year ago. It might not feel like you’ve won the lottery, but it means that for the first time in a while, people actually have a little bit more wiggle room in their budgets. This is a massive signal for anyone wanting to move, because when you feel more comfortable with your monthly bills, the idea of a new mortgage feels way less scary.
What Does This Mean for Your Move?
Right now, the bank’s main interest rate is holding steady at 3.75%. Because of that extra breathing room in people's paychecks, we saw 62,600 house moves get the green light from banks this month—that’s actually up from last month!
If you are thinking about moving or checking your mortgage options, the "direction of travel" is looking much friendlier. A few months ago, inflation was higher (3.6% back in February), meaning the "headwind" was stronger. Now, the wind is dying down, and your legs (your earnings) are getting stronger. This makes the climb toward a new front door feel a lot less steep.
Bringing it Home to SS16 6
So, how does this national "tug-of-war" affect us here in SS16 6? When people nationally feel like they have more money in their pockets, they start looking at houses again. Locally, we’ve seen that it’s very much a "seller’s market"—meaning there are more people looking to buy than there are homes tucked away for sale.
In SS16 6, there are currently about 78 properties on the market, with an average asking price of £450,020. Because national inflation is steadying, buyers in our area are feeling more confident to make offers. It also helps landlords feel more secure, which keeps the rental market moving. Even though the "average price" people are paying across the whole country has dipped slightly to £285,111 this month, the high demand in our specific corner of the world keeps things very busy.
Looking Ahead
The most important thing to remember is that the "squeeze" is starting to loosen. We are moving into a period where your bank balance is finally starting to grow faster than your bills. It’s a slow and steady improvement, but it’s definitely moving in the right direction. If you’ve been waiting for a sign that it’s "safe" to start looking at those property websites again, this might just be it.