Your monthly UK housing market update. Covering sold prices, asking prices, surveyor sentiment and what’s next for the property market.
A quieter close to the year, as confidence begins to rebuild
HM Land Registry – Sold Prices
October felt like a month of quiet adjustment rather than big moves.
Annual sold price inflation eased again, down to 1.7% from 2.0% in September, reinforcing a cooling market after a steadier first half of the year. The average UK home now costs £270,000, around £5,000 more than this time last year, but broadly flat month to month.
Beneath the headline figures, the regional picture remains mixed. England edged up to £292,000 (1.4%), Wales to £211,000 (1.5%), and Scotland to £192,000 (3.3%), while Northern Ireland continues to stand out, with prices up 7.1% year-on-year. Within England, the North East again led the way at 5% growth, while London slipped back by 2.4%, highlighting the ongoing north–south divide.
Sales activity shows buyers haven’t disappeared. 98,000 transactions were recorded in October. While this was down on last year, month-on-month activity picked up. Mortgage approvals dipped to 65,000, suggesting buyers are still cautious — but very much present.
Rightmove – Asking Prices
December brought a sharper seasonal slowdown than usual, as sellers responded to a year shaped by uncertainty.
Average asking prices fell by 1.8% (-£6,695) to £358,138, leaving prices 0.6% lower than at the end of 2024. With plenty of choice for buyers and confidence only just starting to return, sellers are clearly adjusting expectations.
Much of this softness reflects the year. In the first half of 2025, new sellers were 9% ahead of last year, but that momentum faded, leaving listings 4% behind in the second half. Buyer demand followed a similar path: strong early on, then hesitant through autumn.
Despite this, it’s been a relatively positive year overall. Agreed sales finished 3% higher than in 2024, and there are early signs of renewed confidence, particularly at the top end of the market.
With the average two-year fixed rate now at 4.33%, Rightmove expects momentum to return — forecasting asking prices to rise by 2% in 2026.
RICS – Chartered Surveyor Sentiment
Surveyor feedback continues to reflect a subdued, cautious market.
November’s RICS survey showed new buyer enquiries falling to -32%, the weakest reading since late 2023, while agreed sales remained negative at -23%. Notably, most responses were gathered after the Budget, suggesting that clarity hasn’t yet translated into renewed confidence.
That said, the picture improves when looking further ahead. Near-term sales expectations remain flat, but over the next 12 months, +15% of surveyors expect activity to pick up, a stronger outlook than in recent months.
Supply is tightening too. New instructions stayed negative at -19%, and market appraisals slipped further to -40%, pointing to fewer homes entering the pipeline. On prices, the national balance improved slightly to -16%, hinting that the rate of decline may be flattening.
Zoopla – Housing Market Outlook
Looking ahead, Zoopla expects a stronger-than-usual start to 2026, as buyers return after months of waiting through Budget uncertainty and the seasonal slowdown. The appetite to move hasn’t gone away. It’s simply been on pause.
Zoopla forecasts around 1.18 million housing sales in 2026, close to the long-run average of 1.2 million. However, affordability will continue to shape behaviour, particularly for first-time buyers and those trading up in southern England. As a result, realistic pricing will remain crucial for sellers.
Price growth is expected to stay measured rather than dramatic. Zoopla predicts UK house prices will rise by around 1.5% in 2026, followed by average annual growth of 2.1% between 2027 and 2029.
With plenty of homes for sale and affordability gradually resetting, the outlook is for a market that’s steady, balanced, and better paced for sustainable growth.
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