Every region except Scotland, Northern Ireland and Yorkshire registered a monthly fall, with London prices falling by 1.2% in September. London was the only region to register an annual decrease, with average house prices falling by -1.8% annually.

The annual 2.6% UK house price increase is driven largely by the North, with all Northern regions registering above the UK average. Northern Ireland, Scotland and Yorkshire are leading the way, with annual changes of 7.1%, 5.3% and 4.5% respectively.

The latest Manchester house price data shows the average house price is £254,000, up 3.5% from September 2024 which is similar to the North West which saw a rise of 3.4% over the same period. Private rents continued to rise in Manchester to an average of £1,324 per month in October 2025, an annual increase of 4.4%.

Peter Graham, head of real estate and construction for the North at RSM UK comments:

“Both Manchester and the North West saw annual growth in September that outpaced the UK average at 3.5% and 3.4% respectively, signalling continued regional strength and investor confidence. Manchester’s rental market remains buoyant, with private rents rising 4.4% year-on-year to an average of £1,324 per month in October 2025. This growth reflects the city’s booming economy and its appeal to both domestic and international renters, including students and young professionals.

“The uncertainty from government around taxes on housing ahead of the Autumn Budget next week, together with high mortgage rates and affordability challenges are also keeping many buyers trapped in the rental market for longer, intensifying demand. Similarly, Manchester’s expanding student population and thriving tech sector are placing further upward pressure on rents, even as they continue to drive economic growth.”

He added:

“Looking ahead, the pipeline of new rental developments should help ease some of this pressure, particularly in areas with strong links to employment hubs and amenities. Rachel Reeves Budget announcements on 26th November will also give much needed certainty for SDLT on homes that has significantly slowed the housing market in recent months. This includes those current renting in cities such as Manchester who are looking to buy their first home. This should help increase supply of rental stock and help keep any further rental price increases in check.”