The latest e.surv Acadata House Price Index shows that average house prices in England and Wales edged down by 0.3% month-on-month in October to £353,144. 

Market activity remains subdued, with buyers and sellers adopting a cautious stance ahead of the Budget later this month.

Transaction levels have steadied after earlier distortions caused by changes to stamp duty were fully unwound. Market activity is now broadly stable, albeit lacking clear direction. 

The current market trajectory is that wages are continuing to inflate faster than house prices and so to a degree, affordability for first-time buyers is easing. The index authors says that if the Budget creates the conditions for better economic growth, then a degree of positivity can emerge.

Across the regions, monthly movements were minimal, with small rises in some areas (North West, London, East Midlands) offset by slight falls in others. This pattern points to a market in balance, with no clear directional trend ahead of the Budget.

Rob Owens, Head of Research at e.surv, comments: “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.

“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.”

The e.surv Acadata HPI is based on every residential property transaction in England and Wales, including both cash and mortgage purchases, providing one of the most comprehensive and reliable measures of house price trends.

For more information, visit: https://www.esurv.co.uk/category/insight/house-price-index/