The post UK home prices drop nearly £11K in 3 months as buyers gain upper hand appeared on BitcoinEthereumNews.com.

This summer, the average UK home is nearly £11,000 ($14,900) cheaper than it was three months ago, as asking prices continue to fall. According to property website Rightmove, average asking prices dropped by 1.3% in August to £368,740. The decline follows steeper falls in June and July, marking the sharpest three-month downturn in years. More than one in three properties on the market have had their prices reduced since first being listed, reflecting a shift in supply and demand as more homes compete for fewer buyers. Analysts say the housing market is undergoing a correction, unwinding last year’s momentum from stamp duty reforms and fading optimism about interest rates. Buyers benefit from high choice and falling rates The shift has meanwhile presented a rare opportunity for buyers. Housing supply rose nearly 10% compared to a year ago and is the highest in nearly a decade. This equates to greater selection and smaller negotiating strength for buyers. Although values have decreased, the cars are still selling shockingly well.—This is a strong showing. It was the best month for sales in five years, with agreed deals 8% higher than a year ago. That makes July the busiest month since the post-COVID bounce-back in 2020. Borrowing costs are also easing. Two-year fixed mortgages on average have fallen from 5.17% earlier this year to about 4.5% After three cuts in the Bank of England Base Rate in 2025, lenders have been reducing their rates to be competitive. Nonetheless, analysts caution against aggressive easing moves as the central bank starts to address inflation pressures that have broadened the economy. Sellers compete hard to close deals The market has been tougher for sellers. Compared to the recent past, though, there are a lot more homes around, meaning buyers have a much larger smorgasbord of choice, forcing…

---

Filed under: News - @ August 18, 2025 1:22 am