Recessions usually cause property values to fall and lender claims to rise. Yet despite fallout from Brexit, COVID-19 and the now infamous mini budget of October 2022, values held firm. Should the recently announced budget changes coupled with falling interest rates, higher stock levels, a relaxation in capital requirements (through the latest Basel guidance), and softening lender lending criteria (loan-to-value ratios and affordability criteria) raise concerns that the benign claims environment enjoyed for the last decade is about to change? Pleasingly, the answer appears to be a firm 'no'. Unemployment levels remain low, first time buyers (50% of the transactional market in the last 12 months) still have the 'Bank of Mum & Dad' and upsizing home-movers are returning, but with prudent caution. Some private landlords or second home owners may be leaving the market due to impending tax changes (both national and local) and ever greater regulation, but they are doing so by choice, not compulsion, and not in sufficient numbers to impact values.