Property Market Update: July 2025

Welcome to the July 2025 Property Market Update! We've gathered insights from Halifax, Rightmove, Zoopla, Nationwide, and the latest mortgage data from Moneyfacts to provide you with a clear picture of the UK housing market's performance in June.

House prices: Stability amidst moderation

According to Halifax, the average UK house price stood steady at £296,665 in June, showing no monthly change but maintaining annual growth at 2.5%. Halifax describes the market as steady, with prices resilient despite economic pressures.

Nationwide agrees, reporting slower annual growth at 2.1%, with a small month-on-month decline of 0.8%. Affordability challenges and economic caution are clearly moderating price growth, although there's still considerable resilience, especially in more affordable regions.

Asking prices: Sellers getting realistic

June saw sellers adjusting expectations after spring highs. Rightmove noted a 0.3% monthly dip in asking prices to an average of £378,240, the first June drop in a decade. This reflects sellers adapting to a more price-sensitive market following increased competition and stamp duty changes in April. Higher-priced areas, particularly London and the South, saw the most significant asking-price reductions.

Supply and demand: Buyers in control

Housing supply surged significantly, with Zoopla and Rightmove indicating up to 14% more homes available compared to last year. Estate agents have their highest stock levels in years, empowering buyers to be more selective.

Buyer demand remains resilient—Rightmove reports inquiries around 3% higher than a year ago, and Zoopla shows sales agreements up by around 6%. However, buyers are cautious and value-driven, negotiating discounts averaging about 3% off asking prices. Homes that are realistically priced continue to sell briskly.

Mortgage rates: Some relief at last

Mortgage rates have continued easing gradually. Moneyfacts reports average fixed rates for both 2-year and 5-year mortgages around 5.08-5.09%—the lowest levels since late 2022. This easing, combined with slightly relaxed affordability criteria, is boosting buyer confidence and supporting market activity.

Market summary: Finding balance

June revealed a property market adjusting to balanced conditions: stable but not surging prices, cautious yet resilient demand, increased supply, and gradually improving affordability. Sellers pricing realistically find success, and buyers now enjoy greater choice and negotiating power.

Looking ahead, the market appears set to remain balanced, with modest growth expected. Sellers must price sensibly, while buyers, enjoying slightly improved borrowing conditions and increased supply, should leverage their stronger position thoughtfully.

In short, June showcased a balanced, buyer-friendly market—good news for those looking to move without the extremes of recent years.