The traditional autumn rise in asking prices among home sellers proved to be much weaker this October than in previous years, according to the latest figures from property website Rightmove. While the housing market often sees renewed energy at this time of year, the 2025 data shows a far more subdued performance than the usual seasonal boost.
Across Britain, the average asking price for a home listed on the market climbed by just 0.3% in October, equivalent to a modest increase of £1,165. This took the average property asking price to £371,422, Rightmove reported. Although prices did edge upwards, the increase remains well below the 10-year average October rise of 1.1%.
Rightmove attributed the slower pace of price growth to a significant rise in the number of homes for sale. With so much choice available to buyers, sellers have less room to demand higher prices, which has effectively limited their negotiating power. The abundance of listings has led to more competition among sellers, creating a more balanced market environment.
Typically, October is known for seeing renewed activity in the property market. After the quieter summer months, sellers usually relist their homes and buyers resume their searches, leading to a seasonal “autumn bounce” in asking prices. However, this year’s figures suggest that demand has not been strong enough to generate the usual momentum.
The report highlighted that, overall, market activity throughout 2025 has shown resilience despite several economic challenges. Yet, it also noted a cautious tone among both buyers and sellers, reflecting uncertainty about mortgage rates, inflation, and upcoming policy changes.
Rightmove’s property expert, Colleen Babcock, commented that although the housing market has remained largely stable, it currently lacks the pent-up energy that typically drives a stronger seasonal rebound. She explained that sentiment among buyers has been steady but not enthusiastic enough to encourage sharp price growth.
Babcock further noted that the level of housing stock available is at its highest point in a decade. This has created a buyer’s market where serious sellers are being forced to set more realistic price expectations to attract attention. As a result, sellers who genuinely want to move are having to moderate their pricing strategies to stay competitive.
Adding to the cautious sentiment is speculation surrounding the upcoming autumn Budget. There are concerns that new government measures could increase the cost of purchasing or owning property, particularly in the higher-end market. This uncertainty has prompted some potential buyers, especially in southern England, to delay their decisions until after the Budget announcement.
Rightmove’s data shows that the minimal 0.3% monthly rise in asking prices means the national average is now down by 0.1% compared with this time last year. Price declines in London and other southern regions have been a major factor, with the capital recording a 1.4% annual fall in average asking prices.
The report also highlighted that the increased stamp duty rates introduced in England earlier this year continue to weigh on the more expensive markets. These changes have placed added pressure on buyers and sellers in London and the South, slowing down transaction levels in those regions.
Rightmove’s mortgage expert, Matt Smith, provided some optimism, noting that average mortgage rates — particularly on two-year fixed deals — remain lower than they were a year ago. Combined with stable property prices and more flexible lending criteria, he said that many home movers may find their affordability has actually improved compared with last year.
However, not everyone in the market is rushing to buy. Marc von Grundherr, director of London-based estate agency Benham and Reeves, said that although there is plenty of initial interest in London homes, fewer buyers are committing to purchases, particularly those from overseas.
Von Grundherr explained that while mortgage rates have gradually fallen since the Bank of England began stabilising its base rate, persistently high inflation has slowed the pace of rate cuts that many had hoped for by now. This has left many potential buyers in a “wait and see” position, holding off until they are confident that affordability will continue to improve.
He also pointed out that many buyers are waiting for clarity from the government’s upcoming autumn Budget before making big financial decisions. Taxation changes or new housing measures could significantly affect market confidence, so a number of prospective buyers prefer to delay their purchases until policies become clearer.
Despite these short-term challenges, von Grundherr remains positive about London’s long-term performance. He noted that while the capital is currently lagging behind other parts of the country, history shows that once momentum returns, London tends to outperform the national market. He expects confidence to strengthen once economic and political uncertainty eases.
Meanwhile, James Nightingall, founder of HomeFinder AI, observed that first-time buyers remain among the most active participants in the current market. Many are keen to complete their purchases before the year ends, maintaining motivation levels similar to those seen last October. Their determination has helped sustain a degree of activity, even as other buyer groups adopt a more cautious approach.
Overall, while this October’s housing market has not delivered the strong seasonal uplift many were expecting, it continues to demonstrate resilience. Stable mortgage rates, increased property choice, and steady buyer interest have helped prevent any sharp declines, even if the traditional autumn bounce remains modest.
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