HOUSE PRICES: UK property price update

What's really happening this summer?

Summer usually brings a bit of seasonal slowdown in the property market, but this year things are looking surprisingly upbeat. According to Rightmove, average asking prices have dipped by 1.3% in August, but what’s more interesting is the increase in sales activity across the country.

More transactions are being agreed, which is great news for everyone involved. A busy market means more opportunities for buyers to find the right home, sellers to make their move, and agents to help make it all happen.

 Here’s what we’re seeing regionally:

• East Midlands is leading the charge with buyer demand up 18% and sales agreed up 14%.

• West Midlands has seen demand rise by 8%, but sales growth is more modest.

• Wales is showing strong sales growth (up nearly 10%) despite a smaller increase in buyer demand.

• Northern Ireland tops the charts for price growth at 6.1%, thanks to its lower starting point.

• London remains the UK’s most expensive market, with average prices now at £539,914.

“These trends are consistent across all UK regions, as buyers actively seek to finalise sales before the school holidays and the August slowdown."

One of the biggest drivers behind this activity is the recent relaxation of mortgage affordability rules. Buyers can now borrow up to 20% more than they could just three months ago, without any change to their income or interest rates.

At City and Countrywide, we’re seeing this momentum first-hand. Whether you're looking to buy, sell, or invest, now is a great time to explore your options. We’re here to help you navigate the market with confidence—whether that’s through accurate valuations, tailored marketing strategies, or simply offering honest advice.

If you’ve been thinking about making a move, feel free to reach out to 01279295590. We’d love to chat and help you make the most of this active market.

Are you experiencing the same in your area?

Are you experiencing the same in your area?