House prices creep up, but the market’s still in 1st gear⚙️
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🏡 Rightmove House Price Index – September 2025: Key Market Insights
📌 Quick Summary for Readers
✅ Prices edging up monthly, slightly down annually
✅ North performing better than the South
✅ Mortgage rates falling = improved affordability
✅ Premium markets softening
✅ Policy rumours may shape Q4 activity
The latest Rightmove House Price Index (HPI), released on 15 September 2025, provides a valuable snapshot of how the UK property market is evolving as we head into autumn.
While prices have edged up slightly this month, regional variations, shifting mortgage rates, and potential tax changes are shaping a more complex landscape for buyers and sellers alike.
Below, I’ve summarised the key takeaways from the report 👇
📊 1. National Market Trends
📈 The average asking price for homes is now £370,257, rising +0.4 % month-on-month (≈ +£1,517)
📉 Despite this rise, prices are 0.1 % lower than a year ago, marking the first annual decline since January 2024
🧭 The national picture is being dragged down by slower performance in London and the South
🏠 There’s a large supply of homes, especially in the South, creating more competition between sellers
🤝 The number of sales agreed is up +4 % year-on-year nationwide, showing continued buyer demand
🌍 2. Regional Winners and Losers
🏡 9 % more homes for sale than last year in the South, compared with +2 % elsewhere
⏱️ It takes 5 extra days to find a buyer in the South compared to the North & Wales
📊 Northern regions are holding up better — the North West leads with +3.2 % annual price growth
⚖️ The West Midlands is the only northern region showing a slight annual fall (–0.1 %)
👨👩👧 3. Market Segments at a Glance
🪜 First-time buyers: average price £227,133, +0.4 % monthly, –0.2 % annually
🚚 Second-steppers: average price £345,058, +0.3 % monthly, +0.6 % annually
🏰 Top-end homes: average price £669,139, –0.5 % monthly, –0.2 % annually
👉 This highlights a softer premium market compared to the more stable mid-range segment.
💰 4. Mortgage Rates & Affordability Boost
📉 Since August 2024’s first rate cut, two-year fixed mortgage rates have fallen from 5.03 % to 4.52 %
🪙 This equates to around £100/month in savings on an average home with a 20 % deposit
🔑 Lower rates, coupled with high stock levels, are keeping buyers active and giving them more choice
⚠️ 5. Policy Rumours and Market Sentiment
📰 Stamp duty and property tax rumours are swirling ahead of the Autumn Budget.
🏠 A stamp duty change for homes over £500,000 would impact 59 % of London sales vs 22 % elsewhere
🏦 A mansion tax could hit ~11 % of London homes (priced £1.5 m+) vs just 2 % elsewhere
🤔 So far, buyers haven’t reacted dramatically, but uncertainty may slow activity in some areas
⏳ The timing of tax announcements and interest rate expectations will play a key role in short-term market behaviour
Download Rightmove's HPI report here: House Price Index 🔢
Interested to know the value of your home in today's market? Contact Lisa (lisa.dahl@cavendishproperty.co.uk) for an up-to-date valuation (or click the instant link below).
Click here for an instant online valuation 📊
📸 Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential 📸
📸 LEAD IMAGE | For SALE by Cavendish Residential🌳Stunning 5-bed home in Mapperley Park! Over 2,000 sq ft with charming period features, a spacious kitchen/diner, landscaped garden, and garage + parking. Just a short walk to the city. Freehold, no chain — move-in ready! Don’t miss this dream home 🏡✨ Book your viewing today!
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