House prices plateau as Buyers wait for Budget clarity 🏠
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🏡 Rightmove House Price Index – October 2025: Key Market Insights
The latest Rightmove House Price Index (October 2025) paints a picture of a steady but cautious UK housing market. Prices have edged up slightly this month, but activity remains balanced as buyers wait to see what the Autumn Budget might bring. For Nottingham and the wider Midlands, stability continues — with prices holding firm and rental demand driving much of the market’s momentum.
📌 Quick Summary for Readers
🏠 UK house prices rose slightly by +0.3% in October, but the usual autumn bounce is weaker than normal — the market remains cautious.
📉 Annual price growth is flat (-0.1%), with southern regions dragging down the average, while the Midlands and North are holding steady.
🏡 More homes for sale than at any point in a decade means sellers must price realistically to attract buyers.
💸 Mortgage rates have eased, improving affordability a little, but buyer confidence is fragile ahead of the Autumn Budget.
📍 In Nottingham, house prices are stable but rents are up around 7% year-on-year, showing strong demand in the local rental market.
Below, I’ve summarised the key takeaways from the latest Rightmove report 👇
📊 1. National Market Trends
📈 The average asking price for homes now stands at £371,422, up +0.3 % month-on-month (≈ +£1,165).
📉 Prices are –0.1 % lower than a year ago, showing the market has plateaued after a muted autumn bounce.
🏠 The October uplift is weaker than usual (+0.3 % vs a 10-year average of +1.1 %).
💬 Buyer and seller confidence remains steady but cautious, with more homes on the market and tighter pricing.
🤝 Sales agreed are up +5 % year-to-date, proving there’s still solid underlying demand.
🌍 2. Regional Highlights
🏡 London and the South continue to underperform, with prices falling around –1.4 % year-on-year.
📊 Meanwhile, Scotland, Wales and the Midlands are all showing +1 % or better annual growth, keeping the national picture balanced.
📍 Nottingham and the wider East Midlands remain stable — prices are flat but rents are up around 7 % year-on-year.
⏱️ Sellers in southern regions are taking longer to find buyers, while the Midlands are moving at a steadier pace.
💡 For agencies, this is a good time to focus on the rental and yield opportunities in regional cities like Nottingham.
👨👩👧 3. Market Segments at a Glance
🪜 First-time buyers: £226,869 (–0.1 % monthly)
🚚 Second-steppers: £343,988 (–0.3 % monthly)
🏰 Top-of-the-ladder homes: £676,200 (+1.1 % monthly)
📊 The upper-end market is the only segment seeing price growth, while entry-level and family homes are softening slightly.
👉 This points to more resilience among wealthier buyers, with affordability still a constraint for the rest.
💰 4. Mortgage Rates & Affordability
📉 Fixed-rate mortgage deals are now lower than a year ago, improving affordability slightly.
🪙 The typical 2-year fixed rate has dropped from around 5 % to below 4.5 %, saving buyers roughly £80-£100/month on repayments.
💬 However, many buyers are waiting to see what happens in the Autumn Budget before committing.
🔑 A calmer mortgage market is helping to keep transactions moving, especially outside the South.
⚠️ 5. Market Sentiment & Policy Uncertainty
📰 Speculation continues around stamp duty and property tax changes ahead of the Budget.
🤔 Buyer behaviour is steady but cautious, with some holding back until policy announcements are clearer.
🏦 Sellers who price competitively are still finding buyers — realistic pricing is key in today’s balanced market.
⏳ Expect a modest but stable finish to the year if lending rates remain steady and confidence returns post-Budget.
📍 Nottingham Snapshot
🏘️ Average house price: ~£193,000, little changed year-on-year.
💷 Average rent: ~£998/month, up +7.1 % vs last year.
💡 With rents rising and sale prices flat, buy-to-let yields are strengthening, making 2025 a favourable time to expand local rental portfolios.
Download Rightmove’s full report here: House Price Index 🔢
Overall, the market is holding its breath rather than slowing down. The combination of stable prices, improving mortgage rates, and strong rental growth suggests we’re entering a period of balance rather than boom or bust. For investors and landlords in Nottingham, this could be the ideal time to expand portfolios or refocus on yield, while keeping an eye on any policy shifts from the Autumn Budget that might open up new opportunities.
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).
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📸 Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential 📸
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