House prices in Teddington and the wider Richmond upon Thames borough fell during the month of Chancellor Rachel Reeves' Autumn Budget, going against gains seen in parts of London and across the UK.

New figures from the Office for National Statistics (ONS), analysed by estate agent Purplebricks, show that Richmond upon Thames was among the weakest-performing London boroughs in November 2025.

Average property values across the borough fell by £19,290 over the month, taking the typical home price down to £767,961.

The decline came despite a modest rise in UK house prices overall. Across the country, average values increased by 0.3% in November, adding around £854 to the typical home and taking the national average to £271,188.

London also performed better than expected, with average prices in the capital rising by 1.3% during the month, despite uncertainty ahead of the Chancellor's Budget on November 26.

However, performance varied sharply between boroughs. While areas such as the City of London and Kingston upon Thames recorded strong monthly growth, several parts of outer and central London saw notable falls.

Westminster saw the largest drop in the capital, down £26,718, followed by Haringey and Camden.

The fall places Richmond among the so-called "losers" of the Budget month, even though nearby Kingston ranked as one of the strongest-performing areas in the country, with prices rising by £19,541 to £582,206.

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Tom Evans, sales director at Purplebricks, said the overall outlook for the housing market remains positive despite short-term volatility.

He added that planned changes to mortgage rules aimed at first-time buyers could help boost activity at the lower end of the market later this year.

The Chancellor's Budget included a package of tax rises worth £26 billion, including a freeze on income tax thresholds and plans for a high-value council tax surcharge on homes worth more than £2 million in England, a measure likely to affect parts of Richmond borough more than many other areas.