The conflict in Iran has cast a shadow over the UK housing market, particularly in Canterbury, where rising oil prices and inflation fears have caused lenders to withdraw numerous mortgage products. This has resulted in increased borrowing costs and a significant drop in buyer confidence. According to Andy Wicking, director of Charles Bainbridge estate agency, only 47% of homeowners who sought property valuations went on to list their homes in early 2023, down from 68% in the same period in 2025. Sellers are now reducing their asking prices to attract buyers, with homes valued at £600,000 now listed at around £575,000. The average two-year fixed-rate mortgage has risen to 5.90%, the highest since July 2024, impacting nearly a million homeowners expected to exit five-year fixed deals this year. Despite a temporary ceasefire in Iran providing some relief, mortgage experts warn that rates are unlikely to decrease quickly. Sellers like Martin Short express feelings of powerlessness as they navigate a market heavily influenced by global events.