September Property Market Update: Prices Edge Up, Mortgages Shift, and Buyers Get Strategic
- Property Bee
- Sep 17
- 3 min read
The property market has kicked off autumn with a blend of opportunity and uncertainty. The latest data from Rightmove shows that asking prices have inched up for the first time since May, but affordability pressures, regional divides, and rumours of new property taxes are shaping the way buyers and sellers are behaving.
Let’s break down what’s happening, and more importantly, what it could mean for you. Read our full September Property Market Update below;
Asking Prices Stabilise – But The South Lags Behind
Average new seller asking prices rose by 0.4% in September, bringing the national figure to £370,257. That’s a welcome boost after months of decline, but prices are still 0.1% lower than this time last year.
What’s driving the dip? The South of England. With stock levels 9% higher than in 2024 and properties taking an average of five days longer to secure a buyer, sellers in our region are under more pressure to price competitively. By contrast, northern regions are showing stronger growth, with the North West up 3.2% year-on-year.
Despite this, demand hasn’t disappeared. Nationally, the number of agreed sales is 4% higher than last year, including a 3% rise here in the South. Buyers are still moving – but they’re choosier, and they’re seeking realistic pricing and well-presented homes.
Mortgage Market: A Game of Give and Take
While house prices are levelling, the mortgage market is alive with movement. Here are the standout changes this month:
High LTV lending gets cheaper: Gen H cut rates for buyers with smaller deposits, while West Brom launched a 95% LTV option for new builds.
Eco-friendly deals: TSB introduced a new energy-efficient mortgage with a £250 cashback for properties rated A or B on EPC.
More options for complex cases: Suffolk BS raised LTV limits for Joint Borrower Sole Proprietor mortgages, and UTB removed portfolio size caps for buy-to-let investors.
Competitive repricing: Lenders like Aldermore, Fleet, and MFS have all trimmed rates across their ranges.
It’s no wonder short-term flexibility is back in fashion. Two-year fixes are now more popular than 10-year deals, with many buyers betting on potential rate cuts in the coming years.
For someone buying at today’s average asking price with a 20% deposit, the typical monthly mortgage bill is now £100 lower than a year ago, thanks to easing rates.
Regional Reality Check
The South may be underperforming, but the story isn’t all negative. Well-priced homes are still attracting strong demand. Buyers who hesitated over the summer are now returning, encouraged by stabilising prices and more choice.
Meanwhile, London’s market is shifting. The so-called “banana zone” of Battersea to Canary Wharf is losing some shine, with buyers favouring more affordable, better-connected areas like Walthamstow, Croydon, and Ilford.
What This Means If You’re Thinking of Moving
Sellers – Competitive, realistic pricing is crucial, especially in Surrey, Hampshire and Berkshire where choice has increased. Homes that are well presented and priced attract attention fast.
Buyers – Flexibility is your friend. With lenders fighting for your business, it’s worth exploring new products and incentives.
Investors – Reduced buy-to-let rates and higher portfolio limits mean opportunities are opening up again.
Our Take at Property Bee
At Property Bee, we’re seeing exactly what the data shows – correctly priced homes are still selling, often with multiple buyers competing. Our blend of high-quality marketing (drone footage, video tours, professional staging advice) and local knowledge is designed to cut through the noise of a crowded market.
If you’re considering selling, now is the time to act before the Autumn Budget creates more uncertainty. And if you’re buying, don’t just look at the headlines – with the right guidance, there are excellent opportunities out there.
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