Overview

• July’s average asking price fell by 1.2% (£4,531) to £373,709, the largest July drop since 2002.
• Rightmove cut its house price growth forecast for 2025 from 4% to 2% as sellers compete in an oversupplied market.
• The number of homes for sale reached its highest point since 2015, intensifying competition among sellers.
• London saw the sharpest regional declines, with asking prices down 1.5% overall and 2.1% in inner London.
• Two-year fixed mortgage rates eased to about 4.53%, boosting agreed sales by 5% even as Hamptons reduced its rental growth forecast to 1%.