Home Asking Price Index, September 2025: inflation outpaces both home price and rental growth
England and Wales asking prices fell 0.3% in August, with annual growth of just 0.8%, far below inflation, while unsold stock remained near record highs.
This is the September 2025 edition of the Home Asking Price Index, released on 19 September 2025, under the headline:
Inflation Outpaces Both Home Price and Rental Growth
The headlines and summary below are the report's own words, with the key figures as it published them, followed by the report's charts and regional tables as printed.
Headlines
- Asking prices edged down in all English regions (except the North East, North West and Yorkshire), Scotland and Wales during August, making the national average drop by 0.3%. Scotland and the South West indicated the largest price falls.
- Annualised home price growth across England and Wales continues to be well below the level of inflation at just 0.8% overall. We estimate that real growth currently stands at -4.7%.
- The unsold sales stock count for England and Wales remains very high and is currently the largest September reading since 2013. This surfeit of property is putting severe downward pressure on pricing.
- Supply of new sales properties entering the market during August 2025 is 11% higher than in August 2023 but 3% lower than in August 2024. Demand continues to outpace supply.
- The North West is the top regional property market growth leader with an impressive year-on-year gain of 3.7%, followed by Yorkshire at 3.5%. Meanwhile, London is now the worst regional performer with a pitiful annualised loss of 0.5%.
- Sales market momentum remains elevated although this heightened throughput is not enough to significantly reduce the unsold stock total. Typical Time on Market is currently three days higher than in September last year and looks set to rise further.
- The annualised national growth in asking rents slides even further into the negative (now -2.2%), driven down by increased supply (12.5% year-on-year). The national growth figure is in the red due mainly to the negative performance of London, but negative contributions also now come from Scotland, Wales and all English regions except the East Midlands and the North East.
- Only 11 of the 33 London boroughs indicate positive asking rent growth and two of those are below the 1% mark. In Kensington borough, rents are down by 8.6%.
This edition was issued as a short data bulletin with no narrative summary; the headlines above are its full commentary.
Key figures
| Measure | Figure |
|---|---|
| Average Asking Price (England & Wales) | £361,570 |
| Monthly % change (England & Wales) | -0.3% |
| Annual % change (England & Wales) | 0.8% |
| Typical Time on Market (England & Wales) | 92 |
| Real asking price growth (England & Wales) | -4.7% |
| Annualised asking rent growth (national) | -2.2% |
| Rent supply growth (year-on-year) | 12.5% |
| Supply change vs August 2023 | +11% |
Figures are for England and Wales unless the report states otherwise, as published in the edition.
Charts from the report
Source: Home.co.uk Asking Price Index, September 2025
Source: Home.co.uk Asking Price Index, September 2025. Average = Mean (days), Typical = Median (days).
Source: Home.co.uk Asking Price Index, September 2025, Indexed to May 2004 (Value=100).
Source: Home.co.uk Asking Price Index, September 2025 and ONS [RPI ex. housing].
Regional tables
UK Asking Prices, Sep-25
| Region | Average Asking Price | Monthly % change | Annual % change |
|---|---|---|---|
| Scotland | £241,769 | -0.8% | 2.7% |
| North East | £204,731 | 0.0% | 1.0% |
| Yorks & The Humber | £266,818 | 0.4% | 3.5% |
| England & Wales | £361,570 | -0.3% | 0.8% |
| North West | £280,828 | 0.4% | 3.7% |
| West Midlands | £312,907 | -0.4% | 2.2% |
| East Midlands | £288,318 | -0.1% | 0.9% |
| East | £396,043 | -0.2% | 0.1% |
| Wales | £277,482 | -0.5% | 2.0% |
| Greater London | £540,384 | -0.4% | -0.5% |
| South East | £447,928 | -0.4% | -0.1% |
| South West | £382,380 | -0.8% | -0.2% |
UK Time on Market, Sep-25
| Region | Average Time on Market | Typical Time on Market | Annualised % supply change |
|---|---|---|---|
| Scotland | n/a | n/a | n/a |
| North East | 164 | 86 | -5% |
| Yorks & The Humber | 156 | 92 | -5% |
| England & Wales | 170 | 85 | -3% |
| North West | 164 | 92 | -6% |
| West Midlands | 155 | 88 | -1% |
| East Midlands | 153 | 90 | -1% |
| East | 156 | 90 | -2% |
| Wales | 185 | 103 | 1% |
| Greater London | 181 | 95 | -1% |
| South East | 159 | 90 | 0% |
| South West | 170 | 102 | -1% |
Read the full September 2025 edition (PDF, 5 pages)
About the Home Asking Price Index
The Home Asking Price Index measures the change in the prices sellers ask for residential property across England, Wales and Scotland. Today it is computed every month from around half a million advertised homes and is mix-adjusted, so a change in what happens to be on the market does not move the figure; earlier editions state the sample they were built from. Because an asking price is set months before a sale completes, the index runs around five months ahead of completed-sale measures such as the UK House Price Index.
Every edition in the archive, back to October 2006, is listed on the index page. How we measure the UK property market explains the listing data behind it, and today's figures by area are on house prices and rental prices.
Text and figures above are quoted from the September 2025 edition as published, with punctuation normalised for the web, and are not revised. Later editions may restate them.
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