NORTH WEST
£534,000 £718,001 +0%
£375 £3.22bn 452
Source: Dataloft by PriceHubble, Bank of England, HMRC, ONS
SHIFTING DYNAMICS
Resilience has defined the housing market over the year so far, with steady activity and modest price growth. Inflation, monetary policy, and emerging tax speculation will continue to shape sentiment in the months ahead.
ECONOMIC HEADWINDS
The Bank of England kept the base rate unchanged in September, following a cut in August to 4%, its lowest level in more than two years. Persistently high inflation has clouded expectations of further reductions. Inflation is projected to fall to 3.3% by the end of the year and to 2.3% in 2026, still above the 2% target¹.
Attention has also turned to potential changes in housing taxation ahead of the Autumn Budget scheduled for 26 November 2025. Rachel Reeves is reportedly considering a tax on homes sold for over £500,000 and ending the capital gains exemption on primary residences above £1.5m, among other potential changes. Since rumours first emerged, although 54% of agents have reported no impact on their local housing market, others have noted shifts in activity: 23% have seen fewer new listings, 8% more fall-throughs, 4% fewer new applicants, and 12% report experiencing all the above².
UNCERTAINTY WEIGHS
The housing market has shown resilience in the face of change, with activity largely stabilising after dipping following April’s tax break expiry. In July, there were 95,580 transactions, up 4.3% on the same month last year and marking a third consecutive monthly increase³. Mortgage approvals reached 65,352 in July, the highest level since January and 4.6% above last year4 . However, buyer demand is showing strain amid uncertainty ahead of the Autumn Budget, particularly speculation over potential property taxes.
In the North West, a net balance of 21% was returned for the RICS new buyer demand series in August, down from 61% the previous month, indicating a slight fall in demand5
PRICE METRICS
House prices rose for a third month in August, up 0.3% to £299,331 and 2.2% higher than a year ago 6 . Growth is supported by easing borrowing costs and strong wage growth, gradually improving affordability and sustaining demand. A 10% increase in homes for sale compared with last year7 is tempering price growth, while affordability pressures remain, particularly in southern England. Price realism is becoming more evident in the market; with a record 809,000 price reductions logged so far in 2025 – 7.8% higher than during the same period last year8
In the prime markets, the average asking price in the North West is £718,001, level with the same time last year. Wigan and Blackburn are currently the best performing markets.
MOVE IN FOR CHRISTMAS
For buyers in the market now, the ‘move in for Christmas’ date is fast approaching. The average time to secure a buyer is currently 63 days – slightly above 60 days at the same point last year, but down from 77 days at the start of the year9. Once an offer is accepted, completion typically takes another 4–5 months, keeping the pressure on those hoping to move before the holidays. Pricing correctly from the outset is key to a quicker sale, with overpriced homes tending to remain on the market significantly longer.
¹HM Treasury Average of Independent Forecasts, August 2025, ²PriceHubble poll of subscribers, ³HMRC, 4Bank of England, 5RICS, 6Halifax, ⁷7 Zoopla, 8TwentyEA, 9Rightmove
£534,000
£718,001 +0%
£375
£581,000
£759,648 -1.2%
£381
£476,000
£609,064 -4.1%
£333
£726,000
£968,787 -7.2%
£474
Source: Dataloft by PriceHubble, Land Registry.
£918,000
£1,281,721 -6.6%
£563
£423,000
£556,289 -0.1%
£297
£512,000
£674,585 -1.6%
£347
£527,000
£689,818 -1.6%
£333
£799,000
£1,066,779 -3.6%
£521
£1,490,000
£2,355,930 -15.8%
£1,176
NORTH WEST PREMIUM MARKET
£439,000
£550,868 -3.9%
£309
£587,000
£753,316 -5.8%
£348
£435,000
£554,273 -1.1%
£270
£437,000
£564,362 -5.5%
£343
Source: Dataloft by PriceHubble, Land Registry.
£724,000
£868,868 -10.2%
£385
£306,000
£376,712 -0.6%
£233
£450,000
£572,881 -1.1%
£314
£403,000
£508,674 -4.3%
£296
£415,000
£558,485 +10.9%
£309
£720,000
£950,438 -2.7%
£459
£582,000
£719,684 -0.7%
£354
NORTH WEST PREMIUM MARKET
Source: Dataloft by PriceHubble, Land Registry.
Source: Dataloft by PriceHubble, Land Registry.
NORTH WEST MAINSTREAM MARKET
NORTH WEST
Source: Dataloft by PriceHubble, Land Registry.
NORTH WEST
Source: Dataloft by PriceHubble, Land Registry.
£206,173
£534,000
£718,001
NORTH WEST
£228,461
£460,000
£587,023
£143,408
£336,000
£442,308
£152,021
£344,000
£440,754
£376,484
£815,000
£1,103,462
£216,433
£551,000
£743,243
Source: Dataloft by PriceHubble, Land Registry.