UK housing market shows resilience as asking prices edge higher
The UK housing market showed resilience in September as asking prices rose by 0.4% (£1,517) to reach £370,257, according to the latest Rightmove House Price Index.
This marks the first monthly increase after three straight months of declines. Analysts suggest the rise could signal the start of an autumn selling season, even amid ongoing market uncertainty.
Asking prices still below last year’s levels
The September increase is close to the 20-year average of 0.5%. However, asking prices remain 0.1% (£502) lower than the same month last year. This represents the first annual decline since December 2023, with London and the South leading the year-over-year drop.
Regional inventory and sales trends
Housing inventory is uneven across the UK. In the South, the number of homes for sale is 9% higher than last year, compared to just 2% growth in other regions.
At the same time, sales agreements are up 4% year-on-year. Deals rose 3% in London and the South, while other regions posted a stronger 5% increase.
Market outlook and policy influence
Rightmove noted no immediate buyer or seller reaction to speculation over possible property tax changes. Still, the company warned that tax concerns could trigger market “jitters” in the next three months.
Meanwhile, the Housing Secretary has called for faster housebuilding. Yet, competing policy proposals from other departments risk slowing development progress.
