Signs of an "autumn bounce" began to emerge in the UK housing market in September, as average asking prices for homes increased month on month for the first time since May, according to property website Rightmove. The average price of a home coming on the market rose by 0.7% or £2,441 in September, bringing the national average asking price across Britain to £367,440. This increase is slightly higher than the decade-long average rise of 0.5% seen in September. September is typically a more active time for the property market, as buyers return from summer holidays. Rightmove noted that this year’s summer had been quieter due to heatwaves and the World Cup, creating the potential for a stronger rebound. However, average prices remain 0.8% lower than at the same point last year and are 2.3% below the levels recorded at the start of summer. The housing market remains competitive and challenging for sellers, with the total number of homes available for sale reaching a 12-year high for this time of year. Buyer affordability is also a concern, as mortgage rates have been rising. The Bank of England kept interest rates unchanged at 3.75% last week, but average fixed mortgage rates have increased in recent weeks due to higher swap rates, which are used to determine mortgage costs. Financial experts suggest that mortgage rates are influenced by financial market expectations, and buyers are likely to remain cautious and price-sensitive in the coming months. Rightmove noted that buyer demand is lower than it was at this time last year, as buyers face affordability challenges. Colleen Babcock, a property expert at Rightmove, said that while property prices have underperformed compared to long-term averages this year, September is an exception. She added that sellers are facing stiff competition, with a 12-year high number of homes for sale. Realism in pricing and high-quality finishes are crucial for attracting buyers in such a competitive environment. Rightmove’s analysis showed that a home for sale has a roughly 61% chance of finding a buyer, but this varies significantly by region. In Scotland, 91% of homes for sale are finding buyers, partly due to local buying and selling practices. In the North West of England, 71% of homes are finding buyers, compared with 56% in the South East and 42% in London. The analysis also found that 74% of homes sold so far this year were priced correctly from the start and did not require a later price reduction. Babcock emphasized that while more buyers are returning to the market in autumn, the chances of selling depend heavily on location. She noted that over 90% of homes in Scotland sell, compared to less than half in London, highlighting the importance of setting prices according to local market conditions. With mortgage rates rising and many choices available to buyers, competitive pricing remains the most important factor in attracting interest and securing a sale. Sellers who get the initial asking price right have the best chance of standing out in a crowded market. Mortgage expert Matt Smith at Rightmove said that the traditional rise in buyer activity in September shows that the desire to move remains strong, but rising mortgage rates are still a challenge for many. The uncertainty around future rate changes is likely to be holding some potential buyers back. Meanwhile, Kevin James of Bradleys Estate Agents noted that summer activity was better than expected in some areas, particularly for sellers who adjusted their expectations to match current market conditions. As families return from holidays and the new school year begins, the traditional autumn increase in demand is beginning to show. Marc von Grundherr of Benham and Reeves stressed the importance of pricing correctly from the start, especially in London, where buyers have many options and little patience for overpriced properties. He emphasized that while an experienced agent may need to have difficult conversations with sellers about realistic pricing, launching too high can lead to wasted opportunities. Presentation, flexibility with viewings, and listening to market feedback are also essential for successful sales.