The average UK house asking price is falling faster than usual
Rightmove has revised its house price growth forecast for 2025 downwards from 4 per cent to 2 per cent, citing high seller competition as a key factor.
London saw a 1.5 per cent month-on-month fall in asking prices, with inner London experiencing a 2.1 per cent decrease, partly influenced by April's stamp duty increase.
Improved buyer affordability, driven by falling mortgage rates (average two-year fixed rate now 4.53 per cent), and anticipated further Bank of England rate cuts are enticing new buyers.
Separately, Hamptons downgraded its 2025 rental growth forecast to 1.0 per cent, noting that rents on newly let properties rose by only 0.4% year-on-year in June, as demand shifts from the rental to the sales market.
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