The UK property market shows fresh signs of resilience, while the North West continues to surge ahead.
During our last property market update, we cited an air of cautious optimism across the market, with most regions experiencing modest house price growth and steady buyer demand.
These trends appear to have held throughout August and September, suggesting that the market remains robust despite continued uncertainty domestically and abroad.
Data from the Office for National Statistics (ONS) continues to show broadly positive house price inflation throughout 2025, even if the rate of this growth has been less consistent in recent months.
As of August 2025, the average house price in the UK stands at £272,995. This represents a rise of 0.8% compared to last month, and a rise of 3.0% compared to last year. (1)
The ONS UK House Price Index (UKHPI) reports a UKHPI of 104.6 for August 2025, compared to 101.6 in August 2024.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage, and provides a House Price Index figure relating to a baseline figure of 100, as of 2015.
The year-on-year increase of the UKHPI suggests that, despite several challenges, the property market continues to perform well.
According to HMRC (2), there were 93,630 property transactions nationally in August 2025, representing an increase of 1.7% on last year.
However, according to Rightmove (3), the number of sales being agreed is 2% lower than at this time last year.
These figures are consistent with the reported caution across the property market. It appears that while fewer offers are being made/accepted for homes, more buyers are completing their transactions after committing to do so.
This is in line with the buyer activity we have noted in recent months, where buyers are spending more time researching their options and making sure they are in a position to buy before initially making an offer.
Industry sources suggest that key sales indices remain broadly positive, with house price growth growing across the UK.
Despite Halifax reporting a slight drop in house price growth during September 2025, the overall trend is one of modest growth.
However, it should be noted that these averages do not highlight the variation in market performance on a regional basis.
Regional differences in market activity are highlighted in the Royal Institution of Chartered Surveyors (RICS) UK Residential Market Survey, September 2025. (4)
According to RICS, respondents report a ‘subdued market backdrop’ with New Buyer Enquiries and Newly Agreed Sales both falling.
However, as we have seen in previous months, these findings are heavily regionally weighted, with the North and North West of England continuing to outperform much of the rest of the UK.
For example, the survey’s house price indicator registered a net balance of -15% during September, with the South East (net balance -43%) and East Anglia (net balance -38%) contributing significantly to an average fall.
However, respondents in the North (+20% net balance) and the North West (+40% net balance) continue to report increasing house prices.
Likewise, both the North and North West reported increases in Newly Agreed Sales and New Buyer enquiries.
This demonstrates both how regional variations can have a significant impact on national reporting and how the North continues to perform as a property ‘powerhouse.’
The property market across the North West continues to perform well, with average house prices in the region reaching £217,000 in August 2025 – an increase of 4.5% compared to the same period last year.
Other market indicators such as New Buyer Enquiries, Newly Agreed Sales and future Regional Price Expectations are all experiencing an upward trend according to RICS respondents.
Vendor instructions have also accelerated over the past three months, although respondents have indicated a slight dip in available stock during September.
This could continue to drive house price growth locally, as the demand for property across the North West is still strong.
If you’re considering selling a property, now is the time to act to take advantage of a buoyant market, while avoiding any potential pitfalls occurring from the upcoming Autumn Budget.
There has been considerable speculation about what could be announced in the budget, especially around future property tax changes.
Given the government’s commitment to not increasing Income Tax, National Insurance or VAT, some have suggested that the Chancellor, Rachel Reeves, might focus on other sources of potential revenue.
These could include several key changes for property taxpayers. One reported proposal is the replacement of stamp duty and council tax with a single annual levy on homes above a certain value. (5)
This would likely have a heavier impact on high-value regions such as London or the South East.
Further speculation is that CPT will be targeted by the budget. One suggestion is that those selling their primary residence may also be required to pay tax on the sale of their home.
How this will be implemented, if it is announced at all, is unknown, but for vendors looking to sell in the near future, it’s a definite motivation to ensure that their transaction is completed as soon a possible.
Don’t miss the chance to sell your property quickly and for the best possible price – contact Edward Mellor today.
The property market has shown great resilience throughout 2025, but it has also been a time of great change.
The Autumn budget will only add to this change and could introduce sweeping changes to how property transactions are taxed in the future.
To avoid potentially costly additional costs, experience is the order of the day as we exit another tumultuous year for the UK economy.
With over 40 years of experience in helping clients to buy and sell property across Tameside, Stockport, Cheshire, and Greater Manchester, we’re ready to support you at every stage of your property journey.
We also run the North West’s leading monthly online property auction. This allows us to provide vendors with the fastest way to sell properties, achieving sales and money in accounts in as little as seven weeks.
To find out how much your property could be worth and take the first step towards selling your home, contact our friendly, professional team for a free property valuation.
If you are considering selling, now is the time to act. For sellers hoping to sell before Christmas, the window to do so is rapidly closing, so don’t delay – contact Edward Mellor right away!
1 – Private rent and house prices, UK: October 2025
2 – HMRC – UK monthly property transactions commentary
3 – Rightmove – House Price Index
4 – UK Residential Market Surveys – September 2025
5 – Fidelity – What can we expect in the Autumn Budget?
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