Our Branches
Book a Valuation
If you would like a no obligation, professional valuation on your property, please complete our valuation form and one of our appraisal team will be in touch to book an appointment.
We have reached the midpoint of 2025. The first half of the year has been surprisingly steady but what happened in the last four weeks? We take a look at the trends shaping the current UK property market.
Rightmove released its June House Price Index at the very end of the month. Regular readers of our blog know the portal reports on the UK’s average asking price, not the final sold value. June’s statistics reflected the buyers’ market we currently find ourselves in.
Sellers alter asking prices
For the first time in months, the average asking price for a new-to-market property decreased. A dip of 0.3% was noted over the last four weeks, which equated to sellers asking £1,277 less. The new UK average asking price is now £378,240 – a figure that is still 0.8% higher than this point last year.
Pockets of premium pricing remain
Looking at the report a little closer, there are regional variations. While the average asking price dropped more sharply in southern regions and London, asking prices in the North West, Wales and Yorkshire & The Humber increased by an average of 0.5%. The average asking price fell 0.5% in both Scotland and the North East.
The current buyers’ market means sellers need to be super accurate with their pricing. Why? While buyer demand is up 3% year-on-year, there is an 11% increase in properties for sale, compared to 12 months ago. This decade-high number of homes on the market means anything that is overpriced can be slow to sell.
In fact, the latest Rightmove analysis showed homes that attracted an enquiry on the first day of marketing (usually because they are priced attractively) were 22% more likely to find a buyer, when compared to homes that take more than two weeks to receive their first enquiry.
So, have cooling asking prices had an impact on sold values? We examined the two headline house price indexes – both of which concentrate on final sold prices – to find out. To note, the reports were released in June but reflect activity in May.
Up first is the Halifax. Its most recent house price index found the average sold price decreased 0.4% in May, with a revised average of £296,648. Despite the fall, house prices remained 2.5% above where they were last year.
House prices continue to climb
Over at the Nationwide, the number crunchers recorded a 0.5% increase in house prices. It has the national average house price at £273,427. In terms of annual growth, the mortgage lender says house prices are now 3.5% higher than May 2024.
Just like house prices, there are variations when it comes to rental values. There are two heavyweight indexes we like to monitor. The first is Zoopla’s UK Rental Market Report. The portal’s latest analysis revealed rents were 2.8% higher in the year to April 2025, with a typical monthly rent of £1,287. Demand was measured at 60% above pre-pandemic levels, with 17% more rental properties available now than 12 months ago.
New tenancies more expensive again
The latest HomeLet Rental Index, which reflected activity in May, made different observations. It found the UK’s average monthly rent climbed 0.7% in the last four-week monitoring period, to £1,307. It also found annual rental inflation was 0.8%.
Finally, Scotland took a step closer to rent controls in June as The Housing (Scotland) Bill finished Stage 2 of scrutiny. Remaining in the Bill is a plan to allow rents in Rent Control Areas to increase in line with inflation +1%, and up to a maximum of 6%.
If you would like to know more about your local property market, please get in touch.
Subscribe to receive the latest property market information to your inbox, full of market knowledge and tips for your home.
You may unsubscribe at any time. See our Privacy Policy.