House Price Index Oct 2025
Uncertainty surrounding potential November budget measures has muted the usual autumn bounce, with buyer demand, new listings, and agreed sales all down this month. This appears to be prompting a ‘wait-and-see’ approach among new buyers, while committed buyers are increasingly price-sensitive, keeping a lid on house-price inflation and slowing the pace of sales; particularly in London and the South East and South West of England.
What’s happening nationally
House prices are up on average +0.1% in the past month and +2.3% in the past year.
House prices have nudged up over the past month +0.1% on average across the indices. Land Registry reporting September figures is -0.6%, Nationwide +0.3% in October, Halifax +0.6% in October and Rightmove reporting October asking prices is up +0.3%.
Annual house price growth is positive but the rate of growth in recent months has leveled off 2.2% last month and 2.3% this month. The indices report the following shifts in annual house price growth over the past month: Land Registry (2.6% vs 3%), Nationwide (2.4% vs 2.2%), Halifax (1.9% vs 1.3%) and Rightmove reporting asking prices (-0.1% vs -0.1%).
Note that there has been a change of methodology in the calculation of the Land Registry house price index. From February 2025 reporting, January 2023 became the new reference period for inflation rates. Land Registry has been re-referenced because the types of property being sold can change over time.
Indices based on:
Land Registry – registered property transactions in September.
Nationwide & Halifax – mortgage valuations in October.
Rightmove – asking prices posted on Rightmove in October.
*Rightmove is not included in the index average as the basis for its index is different (asking price vs agreed sale price)
| Index reports: | Monthly change | Annual change |
|---|---|---|
| Land registry | -0.6% | +2.6% |
| Nationwide | +0.3% | +2.4% |
| Halifax | +0.6% | +1.9% |
| Rightmove | +0.3% | -0.1% |
| Average change | +0.1% | +2.3% |
House prices in your area
Regional house prices
House prices in most areas of England and Wales are down over the past month (-0.8% across these areas), while house prices in Scotland increased +0.4% and house prices for Q3 in Northern Ireland are up (+4.3%).
UK annual house price inflation has slowed in most regions in England (+2.0% overall). Areas with a fall or slowest growth in house prices include London: -1.8% and the South East/ West (+0.9%). Areas in England with stronger growth include Yorkshire & Humber (+4.5%), East Midlands (+3.5%), North East (+3.5%) and North West (3.4%). UK regions with the highest annual growth include Northern Ireland +7.1% and Scotland +5.3%.
Most expensive/ cheapest areas
In terms of average house price, the most expensive regions in the UK are London (£556K), the South East (£383K), the East of England (£341K) and the South West (£307K). The cheapest regions are the North East of England (£161K), Northern Ireland (£193K), Scotland (£194K), Yorkshire & Humber (£208K) and Wales (£209K).
In terms of cities, the most affordable are: Aberdeen (£139K), Glasgow (£159K), Newcastle (£161K) and Sheffield (£177K). And, the most expensive cities in the UK are: London (£530K), Cambridge (£469K), Oxford (£448K), Bristol (£343K) and Bournemouth (£318K).
Prices by property type
House prices shifted in the last year for detached (+2.9%), semi-detached (+3.7%), terraced (+3.0%) properties and for flats/ maisonettes (0%).
| UK Region | Average price £ | Monthly change | Annual change |
|---|---|---|---|
| England | |||
| Nothern Ireland | |||
| Scotland | |||
| Wales | |||
| North West | |||
| Yorkshire and The Humber | |||
| North East | |||
| West Midlands | |||
| East Midlands | |||
| South West | |||
| East of England | |||
| South East | |||
| London |
| UK City | Average price | Annual change |
|---|---|---|
Market Monitor
September transactions of 96K are up 1% vs August (95k) and up +3.7% on transactions last September (92.6K).
Buyer demand, new listings and agreed sales fall amid budget uncertainty
RICS reports a sharp and continued fall in both buyer demand and new seller instructions in October.
Zoopla reports that uncertainty over potential Budget measures in November is prompting many homebuyers, especially those early in their search, to adopt a ‘wait and see’ approach and has led to the first annual fall in new sales agreed in 2 years. Compared with a year ago, buyer demand is down 8% and sales agreed are down 3%, as the usual pre-Christmas slowdown begins 6 to 8 weeks earlier than normal.
The average time to secure a buyer in October rose to 66 days according to Rightmove up from 64 days last month, slightly above the 12 month average (65 days).
How busy is the market?
- Not busy
- Normal
- Very busy
- Transactions in September are up slightly
- Total transactions in September 2025 96K
- +1% versus last month
- +3.7% higher than last year
Homes for sale vs homebuyers
- Good availability of homes
- Normal
- Shortage of homes
- Buyer enquiries fall(-24% RICS Sept data) 4th monthly fall
- Seller instructions down (-20% RICS Sept data) 3rd monthly fall after 13 successive rises
- Average stock per agent 64 in October; down from 66 last month (incl under offer/ Sold STC Rightmove)
Average speed of sale
- Fast
- Normal
- Slow
- Oct figure: 66 days to find a buyer, up from 64 days last month; slightly above 12 month average of 65 days (Rightmove)
What the experts say
Rightmove
“Despite the overall resilience of the 2025 housing market, we’ve not got enough pent-up momentum or recent positive sentiment to spur the usual autumn bounce in property prices. We’re experiencing a decade-high level of property choice for buyers, which means that sellers who are serious about selling have had to acknowledge their limited pricing power and moderate their price expectations. In addition, speculation that the Budget may increase the cost of buying or owning a property at the higher end of the market, has given some movers, particularly in the south of England, a reason to wait and see what’s announced in the Budget.”
Nationwide
“The housing market has remained broadly stable in recent months, with house prices rising at a modest pace and the number of mortgages approved for house purchase maintained at similar levels to those prevailing before the pandemic struck. Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid struck and house prices are close to all-time highs.”
Zoopla (Hometrack)
“Budget uncertainty is prompting buyers to ‘wait and see’, leading to the first annual decline in sales agreed in two years. Compared with a year ago¹, buyer demand is down 8% and sales agreed are down 3%, as the usual pre-Christmas slowdown begins 6 to 8 weeks earlier than normal. More homes for sale (+7%) is giving serious buyers greater choice. A rise in homes for sale and softer demand have pushed up the average time to sell to 37 days, around 10% longer than a year ago. .House price inflation has slowed over 2025. Realistic pricing is key to securing home sales. The wider economic backdrop is not strong enough to drive further growth in sales volumes in the near term. We expect the number of sales agreed to stabilise at current levels, with continued demand for well-priced homes.”
Halifax
” House prices rose by +0.6% in October vs a fall of -0.3% in September. While there has been some volatility, the market has proven resilient over recent months. There is no doubt that affordability remains a challenge for many. Average fixed mortgage rates are currently around 4% and likely to ease down further, but with property prices at record levels, moving home can feel like a stretch. Many buyers opt for smaller deposits and longer terms to help make the numbers work. With house prices rising more slowly than incomes for almost three years now, we expect the trend of gradually improving affordability to continue.”
RICS
“The October 2025 RICS UK Residential Survey results indicate that the sales market remains subdued, with measures of buyer demand and agreed sales still in negative territory. Anecdotally, comments from contributors suggest that uncertainty surrounding potential tax-raising measures in the upcoming Budget is contributing to the current cautious mood.”
