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Asking prices for UK homes show biggest August fall in 8 years
Rightmove said sellers are adjusting to a 12-year high in homes for sale as buyer demand remains 10% below last year.
- On Monday, property website Rightmove reported UK asking prices fell 2.0% in August, marking the biggest August decline since 2018, with the average asking price at £364,999.
- A 12-year high in available homes combined with the traditionally quiet summer holiday period weighed on prices, prompting sellers to price more competitively from day one.
- While London saw asking prices drop 3.1% annually, the North West of England recorded a 1.9% increase; buyer demand remains 10% below last year despite a recent 'mini bounce' under Prime Minister Andy Burnham.
- Rightmove downgraded its 2026 house price forecast to between flat and a 2% fall, citing geopolitical uncertainty, higher mortgage rates, and risks from the October Budget.
- Hamptons lead analyst David Fell noted that landlords with cash are using the slower market to purchase properties at significantly lower prices, offsetting higher borrowing costs.
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14 Articles
14 Articles
House prices suffer biggest August slump in eight years
House prices in the UK have suffered their biggest August drop since 2018, as a usually quiet period for the property market is stifled further by fears of Budget tax rises. The average house price slumped by two per cent this month to £364,999, according to property portal Rightmove. House prices are down one per cent year-on-year, the largest annual drop since December 2023. The capital’s housing market continues to be the worst affected by h…
·London, United Kingdom
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Asking prices for UK homes show biggest August fall in 8 years
Asking prices for newly listed homes in Britain recorded their biggest August fall since 2018 despite a modest pickup in activity after Prime Minister Andy Burnham took office, property website Rightmove said on Monday.
·London, United Kingdom
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Coverage Details
Total News Sources14
Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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