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  • Average new seller asking prices in UK increased marginally by 0.4% (+ Pound 1,386) this month to Pound 366,281, lower than is usual for this time of year, according to Rightmove. The annual price change dropped further to -0.4%, the biggest drop since March 2019. Subdued activity due to combination of interest rate rises and buyer and seller summer holiday distractions leads to price reductions creeping up to a level not seen since January 2011. A total of 36.3% of properties currently for sale have had a price reduction, with an average reduction equating to Pound 22,700 nationally (6.2%). The number of sales being agreed in August across all property types drops to 18% down versus August 2019.

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