DATA: Nationwide reported UK house price rose 2.2% in year to Sep 2025
This was slightly higher than the 2.1% reported last month thanks to a 0.5% monthly increase. However, the annual rate is likely to fall towards the end of the year as last year’s unseasonally strong November and December fall out of the data.
DATA(PDF): Zoopla reported UK house prices rose 1.4% in year to Aug 2025
They also report “Pre-Budget tax speculation hits activity for higher-value homes – demand down 11% for homes priced at £1m+ and fewer new listings over £500,000” as the “North/south divide in price inflation and activity widens – weaker southern England and stronger rest of UK”.
DATA: BoE reported 64,680 approvals for house purchase in Aug 2025
This was 0.7% lower than the previous month and 0.5% lower than last year but is just 2% lower than the pre-pandemic average. The number of approvals for remortgage were 36% higher than last year.
DATA: HMRC reported 93,630 residential transactions in Aug 2025
This was 1.7% lower than the previous month but 1.7% higher than the same month last year. The figure is 6% below the pre-pandemic average for 2013 to 2019.
DATA: BoE published effective mortgage rate data for Aug 2025
They report the average rate on new advances (both purchase and remortgage) was 4.27%, slightly lower than the 4.28% the previous month. The average rate on outstanding balances increased slightly, from 3.89% to 3.90%.
DATA: FCA published mortgage product sales data for 2024
The tables and dashboards are available at the above link and we have updated our slide deck. However, there is an important note about the regional data that is covered in the Chart of the Week below.
DATA: Scottish Gov published quarterly housebuilding data for Q2 2025
They report “There were 18,869 homes built (completed) and 15,202 new builds started in the year to the end of June 2025” and “ Completions (-1,203; -6%) and starts (-545; -3%) were lower than the previous year”.
DATA: DfBT published construction building materials data for Aug 2025
They report “Deliveries of bricks decreased by 5.2% in August 2025 compared with August 2024”.
DATA: VOA published local reference rents for Sep 2025
The release provides “Local reference rent (LRR) levels in broad rental market areas (BRMA), residential property in England, by number of rooms”.
DATA: Scottish Gov published Scottish Landlord Register data for Aug 2025
The number of registered properties has fallen by 0.9% since March 2025 – a recent peak – while the number of registered landlords has fallen by 1.8% over the same period – continuing the falls recorded since early 2024.
DATA: Financial Market Expectations For BoE’s Bank Rate
The chart provides a summary for the expected future level of Bank Rate based on daily data. The One Year figure was 3.62% on the 1st Oct compared to 3.59% on the 24th Sep.
DATA: New Build Energy Performance Certificates, England
This chart provides a summary of the number of EPCs on new build properties, a useful leading indicator for net additions. The 52-week rolling total was 207,084 for the week commencing 22nd Sep, up from 206,970 the previous week.
POLICY: MHCLG published New Towns Taskforce report
The report provides a list of 12 locations, including existing urban areas and expansions, for the new “towns”, along with 44 recommendations.
POLICY: Scottish Parliament passed Housing (Scotland) Bill
It contains “Legislation to transform homelessness prevention and improve standards in rented housing”, including “giving Ministers the power to implement a system of long-term rent controls”.
POLICY: Welsh Gov set out Rent and Service Charge Standard 2026-2036
They report that “By setting out a 10-year rent and service charge policy, we are providing a clear and predictable framework that supports long-term planning and financial resilience across the sector”.
REPORT: Resolution Foundation reported on housebuilding
They report “Delivering 1.5 million new homes by the end of Parliament would be a genuine step-change in housebuilding in England – but not game-changing when it comes to housing per person levels. In fact, building at this rate across the Parliament would take housing per person levels back to just 2021 levels.”
REPORT: Zoopla reported on housebuilding viability
They report “Building homes is not currently financially viable across 48% of England and deemed challenging across almost two-thirds of it (64%)” while there is “an inverse relationship between viability and affordability for home buyers – in affordable areas it’s harder to build homes; where development is viable it is harder to buy”.
REPORT: HBF reported on uncontracted S106 affordable homes
They estimate that “There are approximately 900 completed Section 106 Affordable Housing units that remain unsold due to the absence of a contract with a Registered Provider” and “There are around 8,500 Section 106 Affordable Housing units that are either under construction or due to commence construction within the next 12 months and are not currently under contract with a Registered provider”.
REPORT: Housing Forum reported on barriers to housing delivery
The report “has highlighted a series of recurring barriers that continue to slow or prevent the delivery of new homes at scale” and “Solutions and potential improvements noted by respondents and participants have been collated and presented, aligned against the barriers identified”.
REPORT: CaCHE reported on housing support in Scotland
The report “highlights the crucial role of housing support in Scotland, showing that these services deliver exceptional value for money and life-changing benefits for individuals”.
REPORT: David Hume Institute on Scotland’s Housing Polycrisis
The report “argues that housing has been wrongly treated as a narrow social issue, and advocates for an urgent shift in understanding, recognising that housing is critical economic infrastructure shaping jobs, wealth, climate progress, and wellbeing”.
REPORT: NEF reported on housing as a universal basic service
The report “considers how to meet the human need for housing while at the same time minimising existential threats to human wellbeing posed by accelerating climate change and depletion of natural resources”.
REPORT: Demos reported on potential tax reforms
Their proposals include “apply NICS to rental income”, “match CGT rates with income tax and introduce an allowance for investment”, “end the ‘uplift’ in capital gains on inherited assets”, “introduce a proportional property tax on high value properties”, and “apply a 200% council tax premium for second homes owned by non-UK residents”.
CORPORATE: Taylor Wimpey published Investor and Analyst Update
They report “In the nine weeks to 28 September 2025, our net private sales rate was 0.65 per outlet per week (2024 equivalent period: 0.70), and 0.64 excluding bulk deals (2024 equivalent period: 0.68). Pricing remained broadly flat with a cancellation rate of 16% (2024 equivalent period: 16%).” They also report “Our sales rate for the year to date is 0.74 per outlet per week (2024 equivalent period: 0.72), and 0.69 excluding bulk deals (2024 equivalent period: 0.68). The cancellation rate for the year to date is 16% (2024 equivalent period: 15%).”.
Chart of the Week
The FCA’s mortgage product sales data is always a welcome (though delayed) addition to our understanding of the mortgage market. This is especially so because it provides us with regional data on the market. Unfortunately, this year’s release has an issue that means the latest regional data is definitely not comparable with previous releases. For this year’s release, the FCA has used the ONS Postcode Directory to assign sales to the relevant country/region while for previous years it has used the Royal Mail Postcode Address File. Comparing the total number of sales by region/country during the overlapping 2020-2023 period in this year’s release to last year’s release shows some minor changes in numbers for most regions – as to be expected. However, there is a significant difference in the South East, where the number has increased by 52%, and the South West where it has decreased by 30%. London has also decreased by 8%. I’m not clear why there should be such a big difference but, given the relative sizes of the two regions, it looks like they’ve fixed an old issue. It would be nice if they also published fixed historical data.
