Average house prices in England and Wales fell by 0.3% in October 2025, bringing the typical sale price to £353,144, the lowest since early 2024, according to Acadata.

Rob Owens, Head of Research at Acadata, said: This decline marks the seventh consecutive month of falling prices, which have now returned to levels seen before the spring recovery. The South East continues to significantly influence this trend, though regional variations are decreasing as the overall market softens.

“Currently, the housing market is marked by caution. Economic uncertainty and anticipation of the upcoming Budget are affecting buyer decisions, especially among those looking for higher-value homes. These properties have seen the greatest impact, and any changes to property taxation could further affect owners of expensive homes, including those looking to downsize. Landlords are also feeling cautious due to regulatory changes and rising costs.

“The upcoming Autumn Budget later this month should provide some clarity. Depending on any new measures related to property taxes or buyer support, we could see changes in market confidence and transaction timing as we head toward 2026.”

For the second month in a row, all parts of England and Wales posted annual price falls in September 2025, with the biggest falls in the South East at 5.8%, followed by the East of England with a 4% fall.