This month it’s a mixed picture, with uncertainty over the November Budget causing some to pause their home search until any changes are confirmed. Find out more about the latest trends nationally and in our regions of Ceredigion, Pembrokeshire and Carmarthenshire with our new house price report.
In Brief
Nationally the market has seen –
- According to Rightmove the average price of property coming to the market for sale rises by 0.3% (+£1,165) this month to £371,422.¹
- This is below the ten-year average October bounce of +1.1%, as the decade-high level of property for sale limits seller pricing power.¹
- The month of September saw 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, but the market remains resilient.¹
- 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.¹
- However, looking at 2025 to date, new buyer demand is up by 2% compared to the same period in 2024, while the number of new sellers coming to market is up by 5%.¹
- The number of sales being agreed in the year to date is also up by 5% compared to the same period in 2024.¹
- The annual price dip continues, with falls in London and the south of England dragging down the overall national average to -0.1%. However, Scotland, Wales and the rest of England have all seen annual asking price rises of at least 1%.¹
- According to Zoopla, Budget uncertainty is prompting buyers to ‘wait and see’, leading to the first annual decline in sales agreed in two years².
- Buyer demand is down 8% compared with last year, while sales agreed have fallen by 3%, with the slowdown most noticeable in higher-value areas².
- House price inflation is steady at +1.3%, with prices flat in southern England but rising by more than 2% elsewhere².
- More homes for sale (+7%), serious buyers now have more choice than they have seen in recent years².
- The average time it takes to sell a home has increased to 37 days, around 10% longer than this time last year².
- Getting the price right is more important than ever to secure a sale².
In terms of the Welsh property market –
- The average house price in Wales is now £267,838, up 0.1% change over the last month and up 1.8% year on year¹.
- The average number of days for a Welsh property to find a buyer has increased to 74¹.
¹Source – Rightmove
²Source – Zoopla
National Overview
Here is our monthly overview of the trends that Rightmove and Zoopla – two of the biggest names in the property market – have been seeing over the last month.
Rightmove’s Insights –
Rightmove says that despite the overall resilience of the housing market in 2025, there’s not enough positive feeling to drive the normal autumn bounce in property prices. This is partly due to a decade-high level of choice for property buyers, meaning that those serious about selling have had to take into account their limited pricing power and moderate their expectations.
Added to this is the speculation that the Budget may increase the cost of buying or owning a property at the high end of the market. This has resulted in some movers – particularly in southern England – waiting to see what the Budget brings.
Rightmove says it is encouraged that housing continues to be a political priority, with some radical changes being suggested. They support policies that would speed up buying and selling, and make it easier for all involved, while also calling for stamp duty reform.
Zoopla’s Insights –
Zoopla also highlights uncertainty around the November Budget, which is making many home buyers pause their activity. As a result it says there’s been the first annual drop in new sales agreed for two years (since October 2023).
It adds that compared with this time last year buyer demand is down by 8%, while sales agreed have dipped by 3%. They say that the usual pre-Christmas slow down has arrived six to eight weeks early, but part of the drop also reflects last year’s busy market when buyers were rushing to complete before the end of stamp duty reliefs in April 2025.
There are still 7% more homes on the market than a year ago and serious buyers are pressing ahead to secure a deal before the end of the year.
There is also the talk of possible property tax changes and this is slowing sales, listings and buyer demand, particularly in homes priced over £500,000. Speculation over what might come in the November Budget is giving many early stage buyers pause for thought.
Regional Insight from Cardigan Bay Properties
We specialise in the property market in West Wales and monitor developments here throughout the year to give you the best, most accurate advice. We cover the key regions of Ceredigion, Carmarthenshire and Pembrokeshire, and this month Tania Dutnell, one of our founders, outlines the key trends we’ve seen through October 2025. If you’d like to find out more please get in touch.
In West Wales we’re also seeing that the uncertainty surrounding the upcoming autumn Budget is affecting the property market across the region. The number of valuations we carried out fell slightly in October – we carried out two less than in 2024 – while the number of viewings fell more significantly – by 28% as buyers opt to wait for the outcome of the Budget before they re-start their property search.
However, the number of offers accepted this month increased by 50%, which is very positive and demonstrates the commitment of serious buyers when they find their perfect home.
We do anticipate that in the run up to the Budget the market will slow further, but we expect that the confirmation of Government plans this month will give buyers greater certainty, ready for the traditionally busy period at the start of the new year.
Your Regional Insights
Here we give you an overview of the latest House Price Index results for our key regions – Ceredigion, Pembrokeshire and Carmarthenshire. Please note that each month these figures are two to three months behind due to the Land Registry taking longer to register new sales, so this report includes sales up to the end of August 2025.
To help you follow the trends for these regions, the graphs below show figures from July 2019 (pre-Covid pandemic) to August 2025.
CEREDIGION
Average property prices in Ceredigion have dropped slightly across the board this month. Detached homes dropped from £297,349 in July 2025 to £295,111 in August 2025; semi-detached properties fell from £189,952 to £189,214; terraced properties fell from £168,178 to £167,574; and flats fell from £105,283 to £104,661.
In terms of the yearly percentage change, properties in the region fell by 5.3% on average, with the biggest drops seen for flats (down 8.9%) and terraced properties (down 5.6%). The monthly percentage change also saw a slight drop – down 0.6% overall, with the biggest drops seen for detached homes, which were down 0.8%, followed by flats – down 0.6%.
View the full Ceredigion report.
PEMBROKESHIRE
It’s a similar picture in Pembrokeshire, where the average property price fell from £222,152 to £218,604. Detached homes fell from £321,980 in July 2025 to £316,210 in August 2025; semi-detached homes fell from £203,074 to £200,199; terraced properties fell from £170,377 to £167,948; and flats fell from £118,997 to £117,016.
The yearly percentage change however shows a small increase of 0.4% for the region, with semi-detached properties recording the largest increase of 2%, while the price of flats fell by 4%. The monthly percentage change was down 1.6% overall, with detached properties down 1.8%, semi-detached and terraced properties down 1.4%, and flats down 1.7%.
View the full Pembrokeshire report.
CARMARTHENSHIRE
The average property price in Carmarthenshire also fell slightly in August 2025 – down to £200,034 from £201,303 in July 2025. All of the different property types saw this small drop – click on the link below to view the changes in more detail.
The yearly percentage change however was up 4.6% for the region, with the biggest annual change seen for semi-detached properties which saw prices increase by 5.7%. Terraced properties increased by 4.3% and detached properties increased by 4.2%, while prices of flats fell by 0.1%.
The monthly percentage change was down 0.6%, with the biggest drop for detached properties – down 0.9%, while both semi-detached and terraced properties fell 0.5% over the month, and flats fell 0.4%.
View the full Carmarthenshire report.
CURRENT UK HOUSE PRICE INDEX
* As of August 2025, the average house price in the UK is £272,995, and the index stands at 104.6. Property prices have risen by 0.8% compared to the previous month, and risen by 3.0% compared to the previous year.
*Details provided by the Land Registry. For more information on the House Price Index please CLICK HERE
Please note that the stats provided by the UK House Price Index are live and constantly evolving.