Colleen Babcock, property expert at Rightmove, called the September rise a “modest recovery rather than a major turning point”.
Asking prices turn after a summer of falls
The average asking price of newly listed homes rose 0.7% (+£2,441) to £367,440 in September, the first monthly rise since May, after a 2.0% fall in August to £364,999. The ten-year September average is 0.5%.
Prices are 0.8% below a year ago and 2.3% below the start of summer. The index stood at 284.1, against 282.2 in August, based on 125,207 asking prices listed from August 9 to September 12, 2026.
Excluding inner London, first-time buyer prices averaged £225,199 (-0.1% monthly), second-stepper homes £344,837 (+0.9%) and top-of-the-ladder properties £672,728 (+0.9%).
Budget and stamp duty
Tomer Aboody, founding director of specialist lender MT Finance, said buyer enquiries 9% lower than last year, higher borrowing costs and uncertainty over a new Prime Minister and Chancellor are acting as deterrents, with another Budget expected to bring more tax rises. He said “what is desperately needed is some market stimulus, ideally via stamp duty reform”.
