Sellers Price Competitively, Buyers Step In
The latest Rightmove House Price Index shows a welcome development: average asking prices for homes in the UK fell by 1.2% (£4,531) in July to £373,709, marking the steepest July drop in over 20 years. While headlines might scream “prices falling,” it’s actually a sign the market is returning to equilibrium, for a healthier and more active housing sector.
Why This Matters for Buyers and Sellers
- Greater Buyer Choice & Better Pricing
Sellers are adjusting their price expectations to reflect today’s market and it’s paying off. According to Rightmove, average asking prices have dipped slightly, which is helping to drive renewed buyer interest and stronger levels of agreed sales.
- Buyer Activity Remains Strong
Despite cooler headlines, agreed sales are up 5-6% year-on-year, and buyer enquiries have climbed 6%, showing that well-priced homes are still attracting serious interest.
- More Affordable Mortgages = More Homes Sold
Average two-year fixed mortgage rates have dropped from 5.34% to 4.53%, saving buyers around £150 a month on the average-priced home. That’s an extra boost for motivated movers.
- Growth Outlook Remains Positive
Even with a revised forecast, house price growth tempered to +2% from 4%, Rightmove still predicts over 1.15 million transactions in 2025, signalling a vibrant market.
What This Means Locally in Harrogate
At FSS, we see this play out in real-time. Sellers who are ready to market at the right price, supported by strong visuals, honest advice, and a tailored strategy, are achieving excellent results. With more buyer activity and competitive mortgage rates, this is a moment many are choosing to act.
FSS’ Take: Timing Is Everything
Are you considering your free, no-obligation valuation? With over £330M in assets under management, we offer expert advice you can rely on, backed by deep local knowledge and straight-talking honesty. It’s what makes us Harrogate’s most comprehensive property partner.
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