Rightmove has reported that the usual autumn boost in asking prices was much weaker this October compared to previous years. Across Britain, the average price of a property coming to market rose by only 0.3% (£1,165), bringing the national average to £371,422.
Traditionally, October sees a stronger increase, with the 10-year average rise standing at 1.1%. However, a high number of homes currently available for sale has reduced sellers’ ability to raise prices, according to the property website.
Typically, the housing market experiences a seasonal bounce after the quieter summer months, but this year’s activity has not been strong enough to drive the usual rise in prices. Despite this, market activity has remained fairly steady overall, though some regions are showing more caution than others.
Rightmove’s property expert, Colleen Babcock, said that although the housing market has shown resilience throughout 2025, it lacks the momentum and confidence needed to trigger the usual autumn price surge.
Babcock noted that buyers now have more choice than at any point in the past decade, forcing serious sellers to be more realistic with their pricing. She also mentioned that speculation about possible tax changes in the upcoming Budget has caused some higher-end buyers, particularly in southern England, to hold off making moves.
The modest 0.3% monthly increase means average asking prices are now down by 0.1% compared with last year. London and the South of England have seen the sharpest declines, with average prices in the capital falling by 1.4% year-on-year.
Rightmove added that higher stamp duty rates introduced in April continue to affect the pricier southern regions more than the rest of the country.
Matt Smith, Rightmove’s mortgage expert, pointed out that although mortgage rates are higher than earlier in the year, two-year fixed deals remain below last year’s levels. He added that with stable house prices and more flexible lending criteria, many movers could find affordability better than expected.
In London, estate agent Benham and Reeves director Marc von Grundherr said buyer interest remains strong, but fewer are committing to purchases, especially from overseas.
He explained that while mortgage rates have improved as the Bank of England’s base rate stabilised, persistent inflation has slowed further reductions. This, combined with uncertainty around the upcoming Budget, has left some buyers waiting before acting.
Von Grundherr added that once the Budget details are confirmed, confidence is likely to improve, and the market could gain momentum again. Historically, he said, London tends to outperform the rest of the UK once activity picks up, and he expects that trend to return.
Meanwhile, James Nightingall, founder of HomeFinder AI, observed that first-time buyers remain among the most active groups. Many, he said, are motivated to secure a home and move in before the end of the year, echoing similar enthusiasm seen during last year’s autumn period.
Overall, Rightmove’s findings suggest that while the market remains stable, high property availability, mortgage rate uncertainty, and Budget speculation have kept price growth modest this October.
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