EXPRESS INDEX - HOUSING MARKET UPDATE - September 2025

There are many UK housing market indexes released every month and we are attempting to provide the ultimate, comprehensive overview to the very fragmented reports available.

UK HOUSING MARKET SNAPSHOT

Average House Price (Price Paid)

£270,000

Monthly Change 0.3%

Annual Change 2.8%

5 Year Change 24.45%

Source: HM Land Registry

Average House Price (Asking Price)

£370,257

Monthly Change +0.4%

Annual Change -0.1%

5 Year Change 1.32%

Source: Rightmove

Number of Sales Completed

44,861

Monthly Change 48%

Annual Change 39%

5 Year Change 69.08%

Source: HM Land Registry

Sales Agreed

Monthly Change 4%

Source: Rightmove

Total Available Properties

565,932

Available Properties Change

Monthly Change 1.169%

Average Time on Market

170 days

Source: Home

Average Time to Sell

63 days

Source: Rightmove

Price Reductions

2.4% properties price reduced last month

Source: Home

Mortgage Approvals

Annual Change 4.6%

Source: Bank of England

POSTCODE DISTRICT DATA

Region
Asking Price Data

REGIONAL HOUSE PRICES

NATIONAL HOUSING MARKET COMMENTARY

"Average new seller asking prices rise by 0.4% (+£1,517) this month to £370,257. Despite this month’s increase in prices, the first since May, the average asking price for a home in Great Britain is now 0.1% (-£502) lower than a year ago. This first annual price drop since January 2024 is the culmination of several months of competitive pricing by new sellers over the summer. It is this attractive pricing which has continued to drive stronger buying activity in the high- supply market, with the number of sales being agreed now 4% higher than at this time last year. Beneath the overall national average, it’s London and the more muted south of England which are driving the annual dip in prices, while prices across other regions in Great Britain are more robust. Activity trends in the south of England are underperforming the rest of Great Britain, and while there’s a long way to go until the Autumn Budget on November 26th, if the mooted property tax changes become reality, they could exacerbate this underperformance."

"The feedback to the August 2025 RICS Residential Market Survey signals a continued slowdown in sales market activity, with most parts of the UK now seeing a decline in the volume of new buyer enquiries coming through. Moreover, forward- looking sentiment points to this subdued backdrop remaining in place over the coming months, while the consensus view among respondents for the year ahead has turned largely flat."

REGIONAL HOUSING MARKET COMMENTARY

"On the back of the recent weakness in new buyer demand, house prices are reportedly coming under a small degree of downward pressure at the national level. Indeed, the headline house price gauge produced a net balance reading of -19% this month, down from readings of -13% and -7% in each of the two previous monthly reports. Within this, respondents based across East Anglia and the South West of England are citing a more noticeable decline in house prices relative to the national average, returning net balances of -64% and -46% respectively (both of which are weaker than last month). To the contrary, survey participants in Northern Ireland continue to report that house prices in their locality remain firmly on an upward trajectory."

"Southern regions of England continue to register the lowest annual price increases, averaging just +0.4%. The number of homes for sale in these regions is higher than a year ago, +18% in London and +12% across the South East and South West regions. Greater choice for buyers and higher prices are keeping house price inflation in check."

AVERAGE HOUSE PRICE CHANGES SINCE 1995

HOUSE PRICE PREDICTIONS FOR 2021
Tim Bannister, Director of Property Data at Rightmove: 4% rise

“2021 has a lot of variables, and so is not an easy one to call, but with Rightmove’s unique leading indicators of buyer and seller behaviour we are confident that the housing market will continue to outperform general expectations next year as it did this."

"Our 2021 forecast of a 4% price rise is more conservative than the unsustainable 6.6% national average seen this year. There’s likely to be a lull in quarter two unless the stamp duty holiday is extended, but for many buyers its removal will not be make or break, though may lead them to reduce their offers to a degree to compensate for the higher tax, and indeed many sellers may be prepared to help to mitigate their buyer’s financial loss."

"First-time buyers will remain largely exempt, so in most cases will be no worse off. The maximum savings of £2,450 in Wales or £2,100 in Scotland are considerably less decisive than the £15,000 available in England for a house costing £500,000 or more, which does however only apply to a small part of the market.”

Russell Galley, Managing Director of Halifax: 2% to 5% fall

"Despite the deepest recession for centuries, house prices have risen over the past year at their fastest rate since 2016, with mortgage approvals also at their highest level for over a decade. This growth has been driven by a shift in demand from buyers as a result of increased home working and a desire for more space, whilst the stamp-duty holiday brought forward many transactions that might otherwise have been planned for next year."

"With the stamp duty holiday also due to expire in March - and lower levels of demand - housing market activity is likely to slow. Taking all of this into account, the post-summer surge in house prices is unlikely to be sustained. Prices are expected to fall by between 2% and 5% next year, although forecast uncertainty is much higher than usual given the current economic and political environment."

Richard Donnell, Research and Insight Director at Zoopla: 1% rise

“Central to our outlook is lower levels of turnover by long-run standards, which over time increases the scarcity of homes for sale."

"We expect the supply of properties for sale to moderate over 2021, which will restrict choice for consumers."

"This creates a scenario in which any improvement to the economic climate, growth in employment levels, or an uptick in consumer sentiment will in turn boost demand, increase transaction volumes in line 2019 levels, and could provide impetus for house price growth in 2022."

Lucian Cook, Head of Residential Research at Savills: 0% change

“We do expect the economic effects of the pandemic to weigh more heavily on the housing market next year."

Nick Barnes, Head of Research at Chestertons: 1.5% rise

"Assuming no further major systemic shocks, we anticipate that the brunt of Covid’s impact on employment will be felt by the mainstream market and we forecast that after an exceptional year of growth in 2020, prices growth across the UK will slow to 1.5%. Greater London prices have risen less but are likely to fall more, and we expect them to drop by 2% by the end of the year."

HOUSE PRICE PREDICTIONS
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