Rightmove has published its latest House Price Index data, which shows that the average asking price for a house in the UK has recorded its first annual decline since January 2024.
While average asking prices rose by 0.4% month-on-month, they dropped by 0.1% annually.
This drop was the result of increased seller pressure, continued decline in house prices in London and the South of England, and rumours over a new property tax that may be on the cards for the Autumn Budget.
In the South West of England, asking prices are down by 1.3% compared with last year.
Average asking prices for houses in London are also down by 1.1% annually, reflect a continued decline as affordability is stretched thin.
London borough asking prices
The average asking price for a house in London in September 2025 was £675,074 according to Rightmove’s data.
Prices vary greatly depending on London borough, however, and some areas have seen bigger declines than others.
The area which saw the biggest annual drop in asking price was Westminster, which has seen average prices drop by -8.8% annually to £1,379,760.
The borough which saw the second-biggest annual decline at -5.2% was Tower Hamlets, which also features one of the lowest average asking prices at £587,396.
The table below shows the average asking price of a house in each London borough along with their annual change in price.
| London Borough | Annual Change | Average Price |
|---|---|---|
| Kensington and Chelsea | -4.0% | £1,570,015 |
| Westminster | -8.8% | £1,379,760 |
| Camden | 0.7% | £1,016,107 |
| Hammersmith and Fulham | 1.3% | £992,221 |
| Richmond upon Thames | 1.3% | £923,363 |
| Wandsworth | -2.1% | £860,976 |
| Islington | 2.6% | £829,405 |
| Barnet | 2.1% | £734,481 |
| Merton | -3.1% | £709,146 |
| Hackney | -1.0% | £706,150 |
| Kingston upon Thames | -0.3% | £699,617 |
| Haringey | -0.5% | £690,840 |
| Lambeth | 0.9% | £681,672 |
| Southwark | -4.0% | £637,090 |
| Bromley | 0.1% | £629,848 |
| Harrow | -1.0% | £618,660 |
| Brent | 0.9% | £615,879 |
| Ealing | -0.6% | £607,734 |
| Hounslow | 0.2% | £599,464 |
| Tower Hamlets | -5.2% | £587,396 |
| Waltham Forest | 1.0% | £573,549 |
| Hillingdon | -0.2% | £559,181 |
| Sutton | 0.2% | £554,133 |
| Lewisham | -0.8% | £524,265 |
| Redbridge | -0.8% | £515,682 |
| Greenwich | 1.8% | £506,106 |
| Enfield | 0.8% | £501,462 |
| Bexley | 0.3% | £491,866 |
| Havering | 0.2% | £489,469 |
| Croydon | -0.5% | £483,951 |
| Newham | -2.8% | £461,272 |
| Barking and Dagenham | -0.4% | £375,949 |
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