Halifax House Price Index for September 2025 – Thoughts from the Industry
Halifax House Price Index for September 2025.
The latest index shows that:
- On a monthly basis, house prices fell by -0.3% between August and September 2025.
- However, house prices were up 1.3% on an annual basis.
- The new average house price now sits at £298,184.
Thoughts from the Industry.
Nathan Emerson, CEO of Propertymark, comments:
“A fall in house prices reflects the ongoing pressure on the housing market from higher borrowing costs, economic uncertainty, and affordability constraints. While price declines may raise concerns among homeowners and sellers, they also present opportunities, particularly for first-time buyers who have struggled with stretched affordability in recent years.
“A cooling in prices is not unexpected given the current economic backdrop and should be viewed in the context of the significant gains seen over the past few years.
“As we look ahead, the key to restoring momentum lies in improving market confidence, whether through interest rate stability, better mortgage accessibility, or policy measures that ease the transaction process.
“Regional variations remain important to monitor, as not all areas will experience price movements equally. Policymakers and industry stakeholders must continue to support a functioning, fluid housing market that works for both buyers and sellers.”
Guy Gittins, CEO of Foxtons, commented:
“Market momentum remains steady and this underlying stability is encouraging buyers and sellers back into the fold, albeit with a degree of caution ahead of November’s budget.
For those looking to sell, the key to success is a pragmatic approach to pricing in line with current market conditions, but those looking to complete their sale before Christmas need to be entering the market now with the right agent and an added sense of urgency.”
Marc von Grundherr, Director of Benham and Reeves, commented:
“The UK property market has weathered a year of market uncertainty and buyer indecision with house prices continuing to show positive annual growth, albeit we’ve seen a marginal month on month decline due to an air of hesitation ahead of next month’s Autumn Statement.
Of course, the homebuying process itself remains one fraught with potential delays and pitfalls and so it’s somewhat commendable to see Labour finally pledge to fix it. However, the Government has long known the struggles facing both buyers and sellers and so their renewed claim to act feels more like political point-scoring than meaningful reform.
In reality, these proposals are unlikely to materialise anytime soon, and the mere suggestion of change could actually cause the market to stall in the short term, as buyers hold out for greater certainty and protection that simply isn’t on the immediate horizon.”
Verona Frankish, CEO of Yopa, commented:
“It’s been very much a case of the tortoise not the hare when it comes to the performance of the UK property market this year and this has arguably been a far healthier market landscape for both buyers and sellers alike.
Slow but sustainable rates of house price growth have ensured that sellers are motivated to move, whilst buyers aren’t being priced out by sizable shifts in property affordability.
It will be interesting to see where we go from here given Labour’s latest pledge to overhaul the homebuying process and, as an industry, we’ve long called for reform around the speed and certainty of the property transaction timeline.
If implemented properly, these changes could go a long way toward boosting confidence among buyers and sellers. The key now will be ensuring that the ambition translates into tangible progress on the ground, rather than getting lost in consultation and delay.”
Daniel Austin, CEO and co-founder at ASK Partners, said:
“Today’s uptick in property prices offers a glimmer of optimism, but growth remains subdued as high borrowing costs continue to weigh on buyers. The Bank of England’s decision to hold rates provides limited reassurance, with persistently elevated fixed mortgage rates delaying meaningful relief for homeowners and first-time buyers alike.
“The construction sector continues to face headwinds from rising build costs, planning delays, and a shortage of skilled labour, while investors and developers remain motivated by the enduring supply-demand imbalance. Resilient sectors such as co-living, build-to-rent, and storage continue to attract capital, reflecting their long-term fundamentals even as broader activity cools.
“With global volatility high and domestic policy still in flux ahead of the Autumn Budget, the MPC is holding steady. Markets are still pricing in a rate cut before year-end, but with inflation unlikely to return, mortgage pressures will persist. For investors seeking stability amid market uncertainty, including the impact of renewed US protectionism, UK real estate debt remains a compelling option, offering capital preservation, steady income, and insulation from equity market swings.”
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