House Price Index

Price increase hints at usual Autumn bounce, but sellers face crowded market

The average asking price of newly-listed properties for sale rises by 0.7% (+£2,441) this month to £367,440. This is the first increase to property asking prices since May.

September’s price increase is also larger than the ten-year September average of 0.5%, which is an early sign of the usual increase in activity we see in Autumn, and after a particularly quiet summer in 2026. September is usually a busier period, as potential movers return from holidays and refocus on buying and selling plans for the rest of the year.

There is, however, lots of ground to make up after this summer’s run of monthly price drops. Prices remain 0.8% lower than at this time last year, and 2.3% below where they were at the start of summer.

It’s a challenging market for sellers, with the number of homes available on the market for sale at a 12-year high for the time of year and affordability still stretched for buyers. Demand from buyers is still 9% lower than this time last year, as many buyers consider their finances carefully.

Accurate and competitive pricing key for sellers

Local estate agents across Great Britain continue to point to accurate and competitive initial pricing as being the number one critical factor in securing a sale. As Marc von Grundherr, Director of Benham and Reeves, notes, “Pricing correctly from day one is absolutely vital, particularly in London where buyers have a huge amount of choice and very little patience for homes that look over-ambitious on price.”

This is backed up by Rightmove data, which shows that 74% of homes that have sold so far this year were priced right first time and didn’t need a subsequent asking price reduction.

Regional forces also come into play alongside pricing. Rightmove data shows that in Scotland, 9 in 10 (91%) of homes for sale are currently finding a buyer, and in the North West of England, 71% of homes find a buyer.

Compare this with only 56% of homes in the more expensive South East region finding a buyer, and only 42% in London, where affordability is the most stretched and there is a larger mismatch between supply and demand.

What are mortgage rates doing?

Rightmove’s daily mortgage tracker shows that the average two-year fixed mortgage rate is now 5.29%. This is up from 5.09% last month, and 4.25% before the war in Iran started, which has been a key driver in elevating mortgage rates.

The average monthly payment on a new mortgage is now around £180 more than it was before the war started at the end of February, further stretching buyers. A lack of clear signs of an imminent end to the conflict continues to create uncertainty for financial markets, with a knock-on impact on interest rates and buyer affordability.

Matt Smith, our mortgages expert, explains:

“This month’s traditional uplift in buyer activity shows there’s still a strong underlying desire to move, but affordability remains a significant challenge for many. Mortgage rates have risen again over the past month, adding further pressure to monthly budgets, and the uncertainty over what may happen to rates in the medium term is likely holding back some potential movers.

“There remains a good volume and range of mortgage products available to support borrowers across different deposit sizes, and although rate rises are never a good thing for buyers, they are at least more accustomed to elevated mortgage rates than a few years ago. Understanding your own personal affordability and how far you can stretch is really important in the current market.”

The numbers at a glance

*Data provided by specialist mortgage technology provider Podium Solutions. The data covers 95% of mortgage lending, to exclude specialist lenders.

Expert comment

Colleen Babcock, property expert at Rightmove:

“September’s above-average price rise is a welcome sign of confidence after a particularly subdued summer, but it should be viewed as a modest recovery rather than a major turning point. Property prices have largely underperformed against the long-term average this year, but September is an exception.

“While buyers and sellers are returning to the market after the summer holidays to potentially fuel an Autumn bounce, sellers face stiff competition from a 12-year high number of other homes for sale. With a large crowd of sellers chasing a smaller number of buyers, realism on pricing or a high-quality finish are absolutely key to attracting a buyer and making a sale.

“Whilst almost two-thirds of homes are still successfully finding a buyer, the chances of selling vary significantly depending on where you live. Over 90% of homes that come to market for sale are selling in Scotland versus less than half in London, meaning those who want to sell will have to set their pricing according to local market conditions.”

Average asking price trends

Monthly average asking price trend

This graph shows the 0.7% price increase seen in September to £367,440. This is the first monthly price increase we’ve seen since May and above average for September.

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5 year asking price trend

This data shows average asking prices in the UK over the past five years. Here you can see the usual seasonal pattern for prices, including the usual dip over the summer.

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Monthly changes in average asking prices

Here we see how much house prices have increased or decreased each month over the past year. The +0.7% seen in September is the first price increase we’ve seen since May.

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Average stock per agent

Here we see the average of the number of homes per agent across the UK. The number of homes currently for sale is at a 12-year high for this time of year.

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Time to secure buyer (National)

Here we can see the monthly average number of days it takes for a seller to secure a buyer in the UK. In January this was 81 days, compared with just 60 days in May 2026.

This average gives an idea of how active the property market is, and how accurately people are pricing their properties. For example, properties that are priced too high will usually take longer to secure a buyer.

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Regional map

UK House Price Index by region

This map shows the UK house price index by region, showing how property price trends vary considerably for different parts of the UK. Wales saw the largest price drop of any region in September, with average asking prices falling by 0.4% compared with the previous month, but were still 0.4% up on this time in 2025.

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London trends

Time to secure a buyer in London

This graph shows the monthly average number of days it takes for a seller to secure a buyer in London. This gives an idea of how active the property market is there, and also how accurately people are pricing their properties in the Capital.

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Affordability trends

Average monthly amount spent on a first-time buyer home

On the graph below, the first-time buyer monthly mortgage payment is based on Bank of England data of the averages for 90% LTV two-year fixed mortgages from lenders, and the average asking price of a typical first-time buyer home (two bedrooms or fewer) using the Rightmove House Price Index. The equivalent monthly rent is calculated using the same property types (two bedrooms or fewer).

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Ability to afford a first-time buyer home

This affordability graph is based on the Average Weekly Earnings (AWE) dataset from ONS multiplied by 4.5 to get the typical maximum that a person can borrow from a lender. The average asking price of a typical first-time buyer home is taken from the Rightmove House Price Index.

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