August Sales Performance

August saw the national average asking price fall by 1.3% (£4,969), bringing the average to £368,740.

At first glance, that might sound like bad news. But in reality, it’s in line with normal seasonal trends — and it’s actually helping more sales go through. July recorded the highest number of sales agreed since 2020, with transactions now running 8% higher than last year.

What’s driving this shift?

• Sellers are becoming more realistic with pricing
• The number of homes on the market is 10% higher than in 2024
• Buyers are benefitting from easing mortgage rates, with the average 2-year fix now at 4.49% (down from 5.17% a year ago)

For homeowners, the takeaway is clear: the right home at the right price is selling quickly — averaging just 32 days. But those priced too high are sitting on the market for months.

If you’re thinking about selling, now is the perfect time to make your move. With motivated buyers and improving affordability, a competitively priced home can secure strong interest and sell fast. Click below to book your free valuation today and we’ll create a tailored selling strategy to put you in the strongest position.

August Lettings Performance

Rents outside London reached a new record in Q2 at £1,365 per month, up 3.9% year-on-year. In London, rents climbed to their 15th consecutive high, now averaging £2,712.

But the market is shifting:

• Supply is up 15% compared with last year
• Tenant demand is down 10%
• Average enquiries per property have dropped to 11, down from 16 last year

As a result, properties are taking longer to let — 25 days on average — and nearly a quarter now require a price reduction before finding a tenant.

Meanwhile, buy-to-let investment is bouncing back, with landlord lending up 17% and 28% more purchases of new rental homes compared to last year.

What does this mean for landlords? 
Rents remain strong, but tenants now have more choice. Smart pricing and good presentation are vital, and with the Renters’ Rights Bill approaching, compliance is more important than ever.

With legislation on the horizon and conditions shifting, it’s essential to ensure your tenancy agreements, notices, and pricing strategies are watertight. Click below to book your free tenancy health check and let our lettings team help you stay compliant, reduce voids, and maximise your rental returns.