December 2025: House prices across the regions of the UK

House prices remain uncertain in the South West

Across the market in the South West of England, there remains great uncertainty. This is especially prevalent in areas such as Cornwall and Devon, where changes to council tax on second homes has had a detrimental impact on the market and selling conditions. Often in these areas the council tax can be doubled the standard rate for second homes. Many second homeowners have then decided that it is no longer financially viable to have the property.

There is also an increase in the use of planning laws such as the Section 106. This is to incentivise local buyers and decrease out of area buyers, but means that the inflated prices following the Covid market is resulting in a stale, slow market across much of the area.

There has been a suggestion of the fall in house prices decreasing to around 0.2% across the South West region of the UK. Although there is speculation that the prices of properties that remain on the market are higher than true market value. Second home owners are more inclined to take a wait and see approach whilst selling on the market. Often this means there is a higher marketing price on properties, with them remaining on the market for longer.