Autumn housing market outlook
| Buyers gain negotiating power with more homes available and improving mortgage affordability | Sellers must adopt competitive pricing strategies as overpriced homes risk being overlooked | Modest price growth is expected, but steady activity could sustain momentum through autumn |
As summer fades, the UK housing market moves into autumn with steady momentum. A high volume of homes on the market and improving affordability are shaping a more balanced, buyer-friendly climate.
Buyer choice driving seller strategy
According to Rightmove, the market is entering autumn with one of the broadest ranges of available homes in a decade. This abundance of choice is influencing how sellers approach pricing and presentation. Colleen Babcock, Rightmove’s Property Expert, explains, “The decade-high level of buyer choice means that discerning buyers can quickly spot when a home looks over-priced. More new sellers are responding with stand-out pricing to entice buyers and get their home sold.”
Price trends
Asking prices dropped by 1.2%, according to Rightmove’s July figures, marking the steepest July decline in over 20 years. However, this is still 0.1% above last year’s level, signalling market resilience. Rightmove has now scaled back its 2025 house price growth forecast to 2%, down from an earlier 4%, reflecting heightened competition among sellers.
Zoopla’s July House Price Index showed the average UK property price at £268,400, a 1.3% annual rise, while northern regions and Scotland had stronger growth than London and the South East. Zoopla now estimates that house prices will rise by around 1% in 2025, compared to a 2% increase predicted at the start of the year.
Affordability and activity
More choice and lower mortgage costs are helping buyers. In August, the average two-year mortgage rate dropped below 5% for the first time since the mini-Budget in September 2022. Meanwhile, the number of transactions remains solid, with agreed sales up 5% and buyer enquiries up by 6% in August.
What to expect in autumn
- For buyers – more negotiating power and better affordability make this a potentially strong autumn to search and secure value
- For sellers – competitive pricing is key; overpricing now risks your property being overlooked
- For the market overall – modest price growth is expected, but steady activity and potential rate cuts could sustain momentum through the autumn months.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.