October has brought some important changes for the UK property market. The Autumn Budget announced higher taxes on rental income, and councils are beginning to enforce new rental rules. More landlords are turning to letting agents for support. If you own a rental property, are thinking of selling, or are looking to invest.
Here are the top developments that might affect your next property decision.
1. Landlords Face Higher Tax on Rental Income
The Autumn Budget has brought another change for individual landlords to consider. From 6 April 2027, the new property income tax rates will be: Basic rate: 24%, up from 20%; Higher rate: 44%, up from 40%; and additional rate: 49%, up from 45%. These changes apply to individual property income taxpayers in England, Wales and Northern Ireland.
What does this mean for landlords?
Higher tax rates will affect the rental profits individual landlords keep. If you own a rental property, now is a good time to review your rental income, running costs and plans.
How Cribs Estates Helps
Cribs Estates supports landlords with rental valuations, tenant finding, rent collection and ongoing property management. If you're reviewing the performance of your rental property, we can help you understand its current rental value and discuss the services available to manage it.
2. Landlord Receives £3,600 Fine for Illegal Eviction Notice
Landlords are beginning to see the financial consequences of failing to follow the new rental rules. A landlord in Gateshead received a £3,600 fine for serving an illegal Section 21 notice after the Renters' Rights Act came into force on 1 May 2026.
The council reduced the penalty to £3,060 after the landlord paid within 28 days. It also confirmed it was considering other cases. This is an important reminder for landlords who are still getting used to the new rules.
Why should landlords pay attention?
Section 21 notices are no longer available in England. Landlords must now follow the correct legal process when seeking possession of their property. Using outdated procedures risks financial penalties and delays.
How Cribs Estates Helps
Cribs Estates provides landlord andfull property management services, including tenancy administration, compliance support and assistance with property management responsibilities. Having the right support helps landlords stay on top of their tenancy obligations and avoid common administrative mistakes.
3. London Rental Supply Falls as Rents Continue to Rise
Finding a suitable rental property is becoming more competitive in parts of London. Figures reported by Landlord Today from Knight Frank show prime outer London rents increased by 3% in the year to September 2026.
The same report highlighted a 6.4% fall in new rental listings in the year to August. The number of prospective tenants for each new property also reached 8.9 in prime outer London during the three months to September. For landlords, this points to continued demand for well-presented rental homes.
What does this mean for landlords and tenants?
Landlords with suitable properties are seeing a competitive rental market. However, setting the right asking rent remains important. An unrealistic price could put off prospective tenants and leave a property empty for longer. For tenants, fewer available homes mean it's worth being prepared and responding quickly when a suitable property comes onto the market.
How Cribs Estates Helps
Cribs Estates provides rental valuations, professional photography, property marketing, viewings and tenant referencing. If you're planning to let your property, we can help you assess its rental value and prepare it for the market.
4. House Price Growth Slows Across the UK
Thinking of selling your property? The latest figures suggest pricing deserves careful attention. The Office for National Statistics reported that average UK house prices reached £273,000 in August 2026, with annual growth slowing to 0.9%, down from 1.2% in July. London experienced a further decline, with average house prices falling by 2.2% over the year. The flat prices fell by 5% over the same period.
What should sellers consider?
Buyers are paying close attention to asking prices, location and overall value. If you're planning to sell, setting a realistic asking price from the beginning helps attract serious enquiries and gives your property a better chance of competing with similar homes. Buyers also have an opportunity to compare more properties and consider their options carefully.
How Cribs Estates Helps
Cribs Estates provides property valuations, professional photography, virtual tours, floor plans,s and marketing across leading property portals. Whether you're preparing to sell or exploring the current value of your property, an informed valuation gives you a clearer starting point.
What's Your Next Property Move?
October's developments give landlords, buyers and sellers plenty to consider. Landlords face higher tax rates from April 2027 and growing responsibilities under the new rental rules. At the same time, demand for professional property management is increasing.
For buyers and sellers, changing property values make local market knowledge and realistic pricing more important. If you're thinking about letting, selling, or reviewing your rental property, speak to Cribs Estates. Our team is here to help you understand your options and plan your next move.
Stay connected with Cribs Estates for the latest property news and local market insights.
Comments