September 2025 | Rightmove House Price Index
The September housing market shows resilience, with asking prices rising for the first time since May and sales outpacing last year. More homes on the market and lower mortgage rates are giving buyers confidence, while sellers need realistic pricing to stay competitive.
As we move through September, the housing market is showing signs of resilience. Rightmove’s latest House Price Index shows asking prices have ticked up for the first time since May, and sales remain higher than this time last year. With more homes on the market and mortgage rates easing, buyers still have plenty of confidence.
Asking Prices Nudge Up, But Annual Growth Slips
The average asking price has risen by 0.4% this month (+£1,517), taking it to £370,257. It’s a modest increase, but it marks the first monthly rise since spring.
That said, average asking prices are still 0.1% below last year’s level, reflecting several months of muted price growth. The fall is being driven mainly by London and the South, where the market is moving more slowly than elsewhere.
Homes in the South are also taking longer to sell, about five extra days on average compared with the rest of the country.
The Summer Asking Price Dip
Every year, headlines talk about asking prices dipping over the summer months. But this so-called “summer slump” is often more about seasonal patterns than the market weakening.
Many families delay listing their homes while on holiday, which means fewer properties appear on the market. Since the mix of homes is smaller and often skewed by value, the average asking price can temporarily look lower.
This September, the data proves the point: asking prices have nudged up by 0.4% (£1,517), marking the first monthly rise since spring. The increase shows that the market hasn’t cooled, prices simply reflect normal seasonal fluctuations.
Sellers shouldn’t worry if their homes saw less activity over the summer, and buyers should be aware that autumn often brings renewed competition and confidence, especially with more properties on the market and lower mortgage rates.
More Competition in the South
Stock levels in the South are up by 9% compared with last year, while in the rest of Great Britain they’re up just 2%. That means buyers in the South have more choice, and sellers need to be extra competitive on pricing.
Despite this, activity remains strong: the number of agreed sales is 4% higher than last year. In fact, sales are up 3% in the South and 5% across the rest of Great Britain, showing that motivated buyers are still out there.
There’s some uncertainty around rumoured property tax changes in the upcoming Autumn Budget. If introduced, higher-value markets could feel the pressure especially London, where nearly 60% of sales are above £500,000 compared with just 22% outside the capital.
Lower Mortgage Rates Support Buyers
It’s now over a year since the Bank of England made its first rate cut in four years. Since then, borrowing costs have continued to fall.
Rightmove’s Mortgage Tracker shows the average two-year fixed rate has dropped to 4.52%, down from 5.03% a year ago. This is giving buyers more confidence and making monthly repayments more manageable.
With more homes on the market, competitive pricing, and cheaper mortgages, the conditions are encouraging many movers to act now rather than wait.
What This Means for You
The market is active, but competitive.
- For sellers: Pricing your home realistically is more important than ever, especially in the South where choice is increasing.
- For buyers: Falling mortgage rates and a wider range of homes on the market mean now could be a good time to make a move.
All the information in this update comes from Rightmove’s House Price Index. Click here to read the full report.
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