The latest data shows that this is below the 10-year average October bounce of 1.1%, as the decade-high level of property for sale limits seller pricing power.

It found September saw a softening of activity year-on-year compared with a strong September last year, which was boosted by the first bank rate cut for four years.

In addition, some movers started to take action to avoid April 2025’s stamp duty increase.

However, Rightmove says the 2025 market remains resilient, though somewhat cautious, when looking at the year to date.

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.

But Rightmove highlights that looking at 2025 year 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%.

Data found that the number of sales being agreed in the year to date is also up by 5% compared to the same period in 2024.

Meanwhile, the annual price dip continues, with falls in London and the south of England dragging down the overall national average to 0.1%. Elsewhere, Scotland, Wales and the rest of England have all seen annual asking price rises of at least 1%.

Rightmove says Southern England is being particularly affected by a combination of increased stamp duty, high buyer choice, reduced appeal to some international buyers, and some ongoing jitters about the forthcoming Budget.

Rightmove property expert Colleen Babcock says: “Despite the overall resilience of the 2025 housing market, we’ve not got enough pent-up momentum or recent positive sentiment to spur the usual autumn bounce in property prices.”

“We’re experiencing a decade-high level of property choice for buyers, which means that sellers who are serious about selling have had to acknowledge their limited pricing power and moderate their price expectations.”

“In addition, speculation that the Budget may increase the cost of buying or owning a property at the higher end of the market, has given some movers, particularly in the south of England, a reason to wait and see what’s announced in the Budget.”

“It’s encouraging that housing continues to be a political priority with some radical changes being suggested. We’re all for policies which would speed up the home buying and selling process and make it easier for all involved, and we’re looking forward to helping the government with our twenty-five years of housing market data.”

“Rightmove has been calling for stamp duty reform for some time now, and we believe that abolishing it completely would remove one of the biggest barriers to movement. We hope the Government considers how they could improve it in November’s Budget. Increasing the thresholds would be a help, but going further would be a huge step forward.”