The average price of property coming to the market for sale has risen by 0.3% to £371,422, an increase worth £1,165, according to the latest Rightmove House Price Index (HPI).

This is below the 10-year average October bounce of 1.1%, Rightmove said, which also warned that the decade-high level of property for sale was limiting seller pricing power.

Rightmove highlighted that September had seen a softening of activity year-on-year compared with a strong September 2024, which was boosted by the first bank rate cut for four years. At that time, some movers had also started to take action to avoid April 2025’s stamp duty increase.

However, Rightmove suggested that the 2025 market remains “somewhat cautious”, when looking at the year to date. Figures showed that the number of new buyers contacting estate agents about homes for sale, and the number of new sellers coming to market in the full month of September, were both down by 5% compared to a year ago.

“We’re experiencing a decade-high level of property choice for buyers, which means that sellers who are serious about selling have had to acknowledge their limited pricing power and moderate their price expectations,” property expert at Rightmove, Colleen Babcock, commented.

“In addition, speculation that the Budget may increase the cost of buying or owning a property at the higher end of the market, has given some movers, particularly in the south of England, a reason to wait and see what’s announced in the Budget.”

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