Your monthly UK housing market update. Covering sold prices, asking prices, surveyor sentiment and what’s next for the property market.
Cautious confidence ahead of the Budget: sales steady, prices stable and realism rules the market.
HM Land Registry – Sold Prices
The latest Land Registry data paints a picture of gentle progress rather than dramatic change. Annual sold price inflation eased slightly to 3% in August, down from 3.2% in July. It’s a small dip, but one showing the market settling into a steadier rhythm.
Across the nations, England’s average rose to £296,000 (2.9%), Scotland to £194,000 (4.0%), and Wales to £211,000 (2.0%). Northern Ireland continues to outperform with 5.5% annual growth.
The regional picture tells a familiar story: the North East is still leading England with 6.6% growth, while London slipped by 0.3% — the only region in decline.
Sales activity remains fairly robust, with 94,000 transactions in August (1.7% up on last year). Mortgage approvals dipped slightly to 64,700, but confidence outside the South remains firm, especially where homes are more affordable and competition stays healthy.
Rightmove – Asking Prices
Rightmove’s latest report shows that while the market isn’t booming, it’s certainly holding its nerve.
Average asking prices edged up by 0.3% (£1,165) this month to £371,422 — a modest rise, but one that underlines just how balanced conditions have become. It’s below the usual autumn bounce of +1.1%, but given how many homes are now on the market, sellers are having to stay realistic.
Compared with the same time last year, asking prices are just 0.1% lower overall. This is largely because of softer conditions in London and the South. Elsewhere, though, activity is steady. Over the year so far, buyer demand is up 2%, new listings are up 5%, and sales agreed have climbed 5%. All proof that plenty of people are still moving.
With more choice, sensible pricing and flexibility are key. Buyers are shopping around, but well-priced homes (especially outside the South) are still selling fast.
RICS – Chartered Surveyor Sentiment
Surveyor sentiment tells a similar story of caution and consistency. The September RICS report suggests the market is ticking along quietly, rather than racing ahead. New buyer enquiries (-19%) and agreed sales (-16%) both remain in negative territory — but the declines are slowing, hinting that we may be nearing a new equilibrium.
There’s less optimism in the short term: most surveyors don’t expect much change before Christmas. Near-term sales expectations are at -9% and the 12-month outlook is also slightly negative for the first time in over a year. Still, it’s worth noting that while demand has cooled, there’s no sign of a dramatic downturn either.
Fewer new listings are coming through (-15%) and house prices are drifting only marginally lower (-15% net balance). Despite this, downward trends are particularly notable in the South East and East Anglia. Scotland and Northern Ireland remain the exceptions — both still seeing gentle upward movement, even as the rest of the market steadies.
Zoopla – Housing Market Outlook
Zoopla describes the mood as a “wait and see” approach. With the Autumn Budget just around the corner, many buyers are pausing to see what happens next — particularly with higher-value homes that could be affected by stamp duty reforms. But for those already mid-move, it’s business as usual.
Nationally, sales volumes are close to the 10-year average of 1.2 million, showing how far the market has come since 2023. Zoopla expects house price growth of around 1–1.5% by year-end. A modest rise, but encouraging given wider economic uncertainty.
Southern England still faces the biggest affordability pressures, yet demand in more affordable regions remains resilient. Speculation about stamp duty changes could inject fresh momentum if reforms are generous, but for now, stability rules the day. The message from Zoopla is clear: while talk of change swirls, Britain’s housing market is quietly getting on with it.
Express Index
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