SEPTEMBER 2025 | PROPERTY MARKET REVIEW
Over the course of September, perhaps the most apparent trend has been an increase in the supply of homes for sale. This has tended to boost activity while suppressing average price growth.
However, housing supply has varied considerably by region. As Rightmove commented in its September price index: “The decade-high number of homes for sale is more pronounced in the south of England… (where) the number of homes for sale is up by +9% on this time last year, compared to +2% across the rest of Great Britain.” As a result, capital appreciation rates have been far from uniform. ONS figures suggest that year-on-year price growth has ranged from just +0.7% in London to +7.9% in the North East.
Things have been more nuanced in the lettings market: there is disagreement between key sources as to whether or not rental listings have been rising. What is clearer is that, overall, rental price growth has eased, and returns have tended to remain healthier in the UK’s more affordable markets.
With respect to yields, however, all regional results have continued to look good – staying well ahead of the rate of inflation. An average of all major indices suggest that they range from highs of 8% or more in the North West, the North East and Wales to a still respectable low of 5.8% in Greater London.
Darren Bennett
Managing Director
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