Overview

• Average listing prices dropped by £1,277 to £378,240 in June, marking a 0.3% decline during a period that typically sees seasonal gains
• Stamp duty increases introduced in April prompted buyers to demand lower prices, driving a delayed downward adjustment in asking prices
• New seller listings rose 11% year-on-year, creating a decade-high level of choice that strengthened buyers’ negotiating power
• Rental growth slowed to a 1.5% annual increase in May as 17% fewer tenants registered and more renters transitioned into homeownership
• Regional price shifts varied with affordability and supply levels, with London and the South West experiencing steeper drops than more budget-friendly areas