Overview
- Rightmove reported on Sunday that average asking prices fell 0.6% month‑on‑month in June, a £2,113 drop that took the national asking price to £376,191.
- The portal pointed to higher mortgage costs, a jump in new listings, the timing of the May bank holiday and an early heatwave alongside World Cup distraction as factors that brought forward the usual summer slowdown.
- Rightmove warned sellers must set competitive asking prices from the outset because buyers are taking longer to compare options and are quick to move on if a home does not offer clear value.
- Separately, Hamptons said newly agreed rents rose 1.1% year‑on‑year to May, with the average new‑let at £1,382 and the South East reaching £1,500 for the first time outside London.
- Analysts say the mix of cautious buyers, small recent falls in some mortgage rates and regional differences — with cheaper areas holding up better — points to slower, more selective market activity and possible further price adjustments.