In response to the ONS Private Rents and House Price data published today which showed that average UK house prices increased by 3% to £273,000 in the 12 months to August 2025, Nick Leeming, Chairman of Jackson-Stops, comments:

“Today’s figures reflect a slower market, with only a moderate monthly increase of 0.8% compared to the 1.5% noted this time last year. The weaker rate of growth reflects pre-budget nerves across the industry alongside a decade-high level of property for sale softening sellers' pricing power.

“Yet annual house prices have remained steady in August at 3% close to last year’s 2.8%, showing that demand and supply fundamentals continue to underpin momentum. Policy speculation will continue to cloud the outlook until the Budget is announced, with October’s HPI data release - due in December - poised to reveal the impact of buyer hesitancy and whether the usual Autumn bounce takes shape.

“Jackson-Stops’ own national data points to a cooling market, where despite market appraisals and listings increasing in September year-on-year, viewings and applicants remain stable but subdued, reflecting wider caution among buyers of higher valued property in the run up to the budget. That being said, regional disparities are becoming more pronounced, with upticks in monthly buying enquiries reported in Alderley Edge, Exeter, and Northampton. Chester and Cornwall top the charts seeing a near 70% surge in buyer enquiries respectively this month, pointing to specific lifestyle-driven demand.

“Looking ahead, it’s clear the government must tread carefully with a property market vulnerable to external shocks. Tax reform must be designed to reduce friction whilst keeping prices stable, in which unexpected consequences are factored into current thinking. The reality is that many homeowners are asset-rich but cash-poor. Policies that stifle transactions or deter investment risk reverberating far beyond the housing sector.”