Will the Middle East war impact UK conveyancing?

The war in the Middle East is starting to have an impact on the progress of purchases and sales in the residential conveyancing market in the UK, as well as affecting the cost of living for many. But what are the issues?

Lack of consumer confidence

Choosing to sell or buy a home is often the biggest financial decision a person can make. The economic uncertainty caused by the Middle East war impacts upon the confidence of sellers and buyers alike, taking a leap in uncertain financial and economic circumstances.

In particular, anyone wishing to move to a larger property may be put off by the prospect of higher interest rates and market instability, at least for the short term. With larger more rural homes tending to be heated by oil, the doubling in prices will be a further reason these types of property have become less attractive to buyers. 

Increased mortgage rates

It has been well publicised that banks and building societies have recently withdrawn many lower rate and fixed mortgage offers, which will negatively impact those hoping to get onto the property ladder for the first time. 

Mortgage rates have climbed to above 5% for the first time on average, the highest since summer 2025. This must be a huge disappointment to prospective first time buyers who will have seen interest rates coming down over the last 12 months, before the conflict started. 

Problems with building materials supply chains

At Samuels Solicitors LLP, we are aware of supply issues for materials on new builds, causing potential delays to transactions. This could potentially have an impact across the country and could mean sale and purchase chains collapsing or being delayed significantly. 

Will house prices fall because of the Middle East war?

If buyers' activity is restricted because of increased mortgage rates, lack of confidence in the market generally, and house building being delayed by supply chain issues, there will eventually be an over supply of properties for sale. 

When supply outstrips demand, it is inevitable that prices will fall, which could of course mean that sellers decide to hold onto their properties for longer, causing further stagnation in the market. 

There is no sign of the conflict coming to an end, despite the daily reports about the US withdrawing from the area, and even when the US and Israeli forces ended their campaigns, the impact will be felt in the UK housing market for some time. 

Best conveyancing solicitors in Barnstaple?

For those who still need to move despite the uncertain times, and if you need to find an experienced and cost effective conveyancing lawyer to deal with the sale or purchase of a property, Samuels Solicitors can help. We receive excellent unsolicited Google reviews for our conveyancing services, and have handled thousands of transactions for satisfied customers, over many decades. 

To speak to an expert conveyancing solicitor in Barnstaple, call our friendly team today. When you contact us, we can provide you with a free quote, with no obligation.