Latest: November property market report

All eyes have been on the House of Commons when it comes to property. After lengthy debate, detail and adaptation, the Renters’ Rights Bill became an Act on 27nd October 2025. Its contents will mainly affect lettings in England and Wales but the discrimination ban protecting tenants with children and tenants in receipt of benefits will also apply in Scotland.

Downing Street was also the focus in October for another reason. We’re following predictions of what could be in the Chancellor’s Autumn Budget on 26th November. Rumours surrounding the property market have served to mute moving activity.

Buy & selling up for overhaul

As we have written about recently, the Government also used October to launch a 12-week public consultation on how buying and selling could be reformed. Details include following Scotland’s lead with early reservation agreements, increasing the amount of upfront information to include searches and a basic survey, and digitising the entire transactional process.

Rent controls for Scotland

The Scottish Government was also busy with its own property agenda. Its Housing (Scotland) Bill was passed by members of Parliament, with Royal Assent due at the end of the year. When it becomes law, local councils will have the power to limit rent increases in controlled areas, capped at CPI+1%, up to a maximum of 6%. 

The detail is still being refined, with a proposal to make mid-market rent and build-to-rent properties exempt. The Act’s addressing of keeping pets and making changes to rental homes also needs further clarity. As such, the Act isn’t expected to be fully phased in until 2027 or even 2028.

Sellers starting the conveyancing process in October may not have noticed a change to documents but there was a shift. The Law Society confirmed new versions of the TA6 property information and the TA7 leasehold information forms are in circulation. A spokesperson said the forms are shorter and simpler so sellers ‘can feel more confident filling them out.’

The private rental sector also geared up for change in October. There will be new mandatory Electrical Installation Condition Report (EICR) requirements from 1st November 2025. The headline? Landlords will be subject to higher fines for breaches (increasing to £40,000). 

In addition, local authorities will be able to serve remedial notices on landlords if their rental is failing. Conversely, it will become harder to prosecute landlords if they can prove a tenant has failed to let an electrician in to perform an EICR. The revised legislation outlines that landlords will be able to cite denied access as a defence without starting legal proceedings to secure entry.

Reticence around reform

Rumour and future reform have had a temporary impact on the market. The portals say ‘Budget uncertainty’ and a ‘wait and see’ approach’ are behind a set of slightly subdued price indexes. It’s not, however, bad news.

Rightmove saw sellers revise asking prices upwards in October – 0.3% higher than September. Some areas showed aggressive increases, including Yorkshire & the Humber (1.5%), the North East (0.7%) and the South East (0.6%). The average asking price is now £371,422.

Buyers biding their time

Zoopla’s house price index showed a 7% increase in homes coming to market in October 2025, when compared to the same period in 2024. In that same timeframe, buyer demand has slipped slightly. This is to be expected ahead of an announcement like the Budget.

New tenants found they were paying more for a rental in October. The latest HomeLet report found average monthly rents for new tenancies climbed 1.1% in its last monitoring period. This leaves UK tenants paying £1,343 per month.

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