The latest data from property search giant, Rightmove shows that although the UK’s housing market remains resilient, it is not showing the usual autumn bounce this year, with asking prices rising by just 0.3% in the past month.
Across Britain, this means the average price of a property coming to the market for sale rose by £1,165 in the past month to £371,422, which is below the 10-year average October increase of 1.1%.
However, looking at 2025 year to date, new buyer demand is 2% higher compared to the same period in 2024, while the number of new sellers coming to market is up by 5%. The number of sales being agreed in the year to date is also 5% more than the same period in 2024.
In Yorkshire and Humberside, asking prices dipped by 1.1% in the past month. However, this comes after prices in the region jumped by 1.9% in September, which was significantly higher than the national increase of 0.4%. This means prices in Yorkshire and Humberside are currently 1.9% higher than they were 12 months ago, with the average home now priced at £255,830.
Patrick McCutcheon, head of residential at Yorkshire estate agent, Dacre, Son & Hartley, said: “There is no shortage of desire amongst buyers and sellers, but many are deferring action until the effect of Rachel Reeves’ November budget is clear, in terms of wealth taxes, stamp duty changes, capital gains tax and so forth. Some worries may be based on unlikely foundations, but all parties in the housing market prefer certainty – and that is a rare commodity at present.
“It’s also worth remembering that stock levels have increased in recent years. This means there’s more choice available across all price points, but with this comes less price growth, simply because sellers must price realistically in the current buyers’ market.”
Colleen Babcock, property expert at Rightmove, said: “Despite the overall resilience of the 2025 housing market, we’ve not got enough pent-up momentum or recent positive sentiment to spur the usual autumn bounce in property prices. We’re experiencing a decade-high level of property choice for buyers, which means that sellers who are serious about selling have had to acknowledge their limited pricing power and moderate their price expectations. In addition, speculation that the Budget may increase the cost of buying or owning a property at the higher end of the market, has given some movers, particularly in the south of England, a reason to wait and see what’s announced in the Budget.
“It’s encouraging that housing continues to be a political priority with some radical changes being suggested. We’re all for policies which would speed up the home buying and selling process and make it easier for all involved, and we’re looking forward to helping the government with our twenty-five years of housing market data. Rightmove has been calling for stamp duty reform for some time now, and we believe that abolishing it completely would remove one of the biggest barriers to movement. We hope the Government considers how they could improve it in November’s Budget. Increasing the thresholds would be a help, but going further would be a huge step forward.”
