The Race to the Checkout, October 2026 Inflation & Affordability Update
Think back to this time last year. You probably remember the feeling at the supermarket checkout, that slight wince when the total appeared on the screen, even though you hadn’t bought anything fancy. Maybe you were eyeing up a move to a bigger house but felt like the goalposts were being moved further away every time you checked your bank balance. Well, I’m Morris Breuer, and I’ve got some news that might just make your morning cuppa taste a little bit sweeter.
We often hear the word “inflation” buzzed about on the news, but what does it actually mean for you and me? Imagine inflation is like a mischievous little ghost that haunts your wallet. It doesn’t steal your notes, but it nibbles away at what they can buy. If a loaf of bread cost £1 last year and the “ghost” (inflation) is at 3.3%, which is where it sits this October, that same loaf now costs about £1.03. It sounds small, but when that ghost nibbles at your petrol, your heating, and your weekly shop, it adds up.
But here is the exciting part: there is another runner in this race. While the cost of things has gone up by 3.3%, the average amount of money people are actually earning in their pay packets has jumped up by 3.7%.
The Winning Margin Did you know that for the first time in a long while, your wages are actually “faster” than the rising prices? We call this a “positive signal for affordability.” Because your pay is growing 0.4% faster than the cost of living, you actually have a tiny bit more “spending power” than you did before. It’s like running a race where the finish line is moving away from you, but you’ve finally started sprinting faster than the line can move.
So, what does this mean if you’re looking at a new front door or thinking about moving to a new neighbourhood?
Right now, the Bank of England has kept the “base rate”, which is basically the price the banks pay to borrow money, at 3.75%. Because our wages are finally beating inflation, people are starting to feel a bit more confident. We’ve seen the average price of a home across the country nudge up to £288,279 this month. While that is a small rise from September, the pace at which prices are growing has actually slowed down compared to the summer. It’s a bit like a car slowing down as it approaches a junction; it’s still moving forward, but it’s much easier to keep up with.
How this hits home in null You might be wondering, “Morris, that’s all well and good for the country, but what about here in null?”
When things get a bit more affordable nationally, it ripples down to our high street. In null, we currently have about 450 homes looking for new owners. Because people’s pay is stretching a little further, buyers are feeling braver. However, it is still very much a “buyer’s market” here. This means if you are looking to move into the area, you have a bit more puff to negotiate, especially with the average sold price sitting around £554,162 over the last year.
For those of you who have lived here a long time, there’s a lovely bit of reassurance: over the last seven years, homes in null have gone up in value by nearly £100,000 on average. That is a lot of extra security tucked away in your bricks and mortar!
Whether you’re looking to upsize for a growing family or you’re curious about what your own four walls are worth in today’s climate, the outlook is looking much steadier. We are moving away from the “squeeze” and towards a market where you can actually plan for the future with a smile.
