Rightmove has significantly reduced its 2025 house price prediction by half, expecting only a 2% rise this year due to an oversupply of homes and intensified competition among sellers. The volume of homes for sale has reached its highest level since 2015, leading to downward pressure on asking prices. The average asking price fell 1.2% in July, marking the steepest decline for that month in over two decades. Notably, central London experienced the sharpest decline, driven by rising stamp duty and changing tax regulations.
"The decade-high level of buyer choice means that discerning buyers can quickly spot when a home looks over-priced compared to the many others that may be available in their area."
"There is significant property choice and availability for buyers, which is allowing them to be uncompromising on their criteria and expectations."
Collection
[
|
...
]