Overview
- Rightmove reported a 2.0% fall in newly listed asking prices in August 2026 to an average of £364,999, leaving prices 1.0% below a year earlier.
- The property portal downgraded its 2026 outlook from a 2% rise to a range of flat to a 2% fall in average asking prices for the year.
- Available homes for sale are at multi-year highs, which has pushed many sellers to cut asking prices to attract a smaller pool of buyers.
- The market shows clear regional splits with London weakest, about 3.1% down annually, while several northern areas report modest annual gains of roughly 1.5–1.9%.
- Cash-rich investors are making deeper below-asking offers and acceptance rates for such bids have risen, rents for newly-let homes are growing modestly, and the Chancellor’s October Budget and sustained mortgage costs are the key risks to any recovery.