Average asking prices dropped by more than usual this month but there are hopes of a bigger Boxing Day bounce, Rightmove suggests.
The latest Rightmove House Prices Index blames the Budget uncertainty for a larger than usual drop in house prices.
The portal’s data, based on properties listed by estate agents between 9 November and 6 December 2025, found average new seller asking prices fell by 1.8% to £358,138. This larger than usual December drop means and means prices are 0.6% lower at the end of 2025 than in 2024.
However, there are early signs of a post-Budget rebound, with number of top-end London sellers up by 24% week-on-week.
Rightmove highlighted findings from a survey of more than 10,000 potential movers that revealed almost one in five were waiting for the outcome of the Budget to resume their moving plans.
The property website’s analysis suggests the uncertainty and gloom caused by rumours of property tax rises in November’s Budget from as early as August contributed to more subdued activity and pricing in the second half of the year.
The number of new sellers coming to market in the first half of 2025 was 9% ahead of the first half of 2024, which reversed to 4% below 2024 across the second half of this year
Buyer demand was 3% ahead of 2024 across the first half of the year, but 6% behind in the second half
It’s still been a more positive year overall for sales, with the number of sales agreed 3% higher than in 2024.
Improved buyer affordability and plenty of choice for buyers suggests a market more like the encouraging first half of this year rather than the second half in 2026, Rightmove suggests.
It is predicting that new seller asking prices will rise by 2% next year.
Colleen Babcock, property expert at Rightmove, said: “Lower price growth supported buyer affordability and drove activity in the first half of the year, even after the April Stamp Duty deadline in England. In the second half of 2025, uncertainty caused by rumours of property tax changes in November’s Budget swirled, some from as early as August.
“This had an impact on pricing and activity, as sellers tried to entice nervous buyers. The market will soon benefit from the traditional boost in home-moving activity from Boxing Day. Rightmove’s Boxing Day Bounce is an annual event where we see many begin or resume their plans to move after the distraction of Christmas. With the turkey and trimmings barely off the table, each year we see people heading straight to Rightmove to browse the fresh listings for sale and imagine how different next Christmas could look.”
