House prices edge lower across Southern England in lead-up to Budget
By Michele Maatouk
Date: Friday 28 Nov 2025
(Sharecast News) - House prices across southern England edged lower in the four weeks to 23 November for the first time in 18 months in the run-up to the Budget, according to Zoopla.
Zoopla said market activity has cooled slightly since the summer as budget speculation encouraged many to "pause and reassess".
Prices in London dipped 0.1% on the year to an average of £530,000.
Momentum remains strong elsewhere, it said, with prices rising as much as 3% in the North West and by 2-3% across northern England, Scotland and Wales amid steady demand.
Zoopla said speculation about potential new taxes on homes over £500,000 had a greater impact in the south, where more than a third of properties for sale fall into this bracket.
"This, combined with wider market trends, has nudged prices lower and expanded choice for buyers," it said. "The number of homes for sale in southern regions is now 8 to 15% higher than a year ago, helping to create a clear buyers' market. Although buying costs increased after the end of stamp duty reliefs in April 2025, mortgage rates have largely held steady."
Across the UK, house prices rose 1.3% on an annual basis to an average of £270,200.
Zoopla said: "After a long lead-in, the Budget bark was worse than its bite for the housing market. Homebuyers and sellers will welcome the end of the uncertainty that stalled housing market activity since the late summer.
"Our data shows the underlying demand to move home remains strong. With greater certainty, we expect a rebound in housing market activity that builds into the new year, with households who paused home moving decisions over recent months return with greater confidence.
"We expect the variance in price inflation between the South and the rest of the country to remain, and income growth is key to helping reset housing affordability and unlocking more home moves."
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