House prices in England and Wales fell by 3% on an annual basis in September 2025 to £355,100 and are unchanged from August 2025 according to Acadata.

Rob Owens, Head of Research at Acadata, said: “The latest house price report for England and Wales shows that transaction volumes have stabilised following earlier distortions caused by stamp duty changes. Sales activity in July and August returned to typical seasonal levels, suggesting that the market has now absorbed the impact of those policy shifts. However, while volumes have recovered, prices remain under pressure.

“Market sentiment continues to be weighed down by economic uncertainty, concerns over employment, and speculation around potential tax changes in the upcoming November Budget. With downsizers and landlords adding supply to the market, and refinancing pressures mounting for borrowers, price growth remains constrained.”

Regionally London was the only location which showed an annual rise in August 2025, albeit of just 0.5%, all other regions fell with the South East down the most at 4.8% annually, followed by the East of England at 3.1%, Yorkshire and The Humber at 2.5% and the South West at 2.4%.

Owens said: “Regionally, price declines have been widespread, with southern markets - particularly the South East - leading the downturn. London was the only area to record a modest annual increase. Despite current challenges, structural undersupply and latent demand from aspiring homeowners suggest that any Budget measures aimed at stimulating housing could quickly shift momentum.”