July saw UK house prices decline sharply, with the average asking price falling by over £4,500, the most significant decrease in over 20 years. Rightmove reported a month-on-month drop of 1.2 percent, now standing at £373,709. Despite typical seasonal declines, this year's fall was particularly pronounced. Rightmove adjusted its 2025 house price growth forecast from 4 percent to 2 percent, attributing the slowdown to fierce seller competition. London, especially inner London, played a critical role in driving down asking prices.
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UK house prices have experienced their sharpest July decline in over two decades, with the average asking price falling by more than 4,500 this month.
This year's drop is the most significant recorded by Rightmove for this time of year across its more than 20 years of data.
Rightmove has also cut its house price forecast for 2025 from 4 percent growth to 2 percent due to a high level of seller competition limiting price growth.
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