🏡 July 2024 - House Price Index: "Political certainty and potential rate drop bode well for Autumn"

In this blog post, we're going to break down the top need-to-know information gleaned from the latest data provided by Rightmove. 📊 From trends and fluctuations to insights that could potentially impact your property journey, we've got you covered.

Here are our top 10 key facts for homeowners from the article:

Drop in Asking Prices: Average new seller asking prices have dropped by 0.4% (£1,617) to £373,493 this month, which is a larger drop than the usual July decrease of 0.2%. 📉🏠

Stable Market Activity: Despite the distractions of the General Election, sports events, and the summer holiday season, market activity has remained steady. ⚖️🏘️

Sales Increase: The number of sales being agreed is 15% higher than the same period last year, indicating a strong market despite high mortgage rates. 📈💼

More Sellers: The number of new sellers entering the market is 3% higher than last year, showing confidence in the market. 🏠🚪

Buyer Demand: Overall buyer demand remains stable, though there is a slight 2% drop in the first-time buyer sector due to affordability issues. 🔄🛒

Expected Rate Cut: There is an expectation of the first Bank of England Base Rate cut in August or September, which could boost the market. 📅📉

Mortgage Rates: The average five-year fixed mortgage rate is now 4.97%, lower than the peak of 6.11% in July 2023, but still much higher than the 2.51% average in July 2021. 🏦💸

Political Impact: The General Election has had minimal impact on market activity, with most people continuing with their moving plans. 🗳️🔄

Future Outlook: Political certainty with a new government and potential rate cuts are expected to boost home-mover confidence and market activity in the autumn. 🍂📊

First-time Buyers: High mortgage rates continue to challenge first-time buyers, with some waiting for rate cuts to improve affordability. The government's plans to support the housing market and first-time buyers are seen as positive signs. 🏠💼

Don't navigate the market alone!

For tailored insights and expert guidance tailored to your circumstances, why not schedule a marketing consultation with us today?

📊 Let's work together to ensure you're equipped with the most accurate information to make confident choices.

Click start to fill in the form and your local property partner will review the information you have provided and contact you as soon as possible.

First Name

Last Name

Mobile Phone

Your Email Address

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

Rightmove House Price Index February 2026

The latest Rightmove House Price Index gives a clear signal about where the UK property market is heading as we move deeper into 2026. After a strong start to the year, the February figures show that buyer activity remains high while sellers are beginning to prepare for the traditional spring market surge.

CLICK HERE >

Why early 2026 demand gives smart sellers a pricing and negotiation edge

Buyer demand does not suddenly appear in spring. It starts right now. In this article we break down where serious buyers are in January 2026, why early demand creates stronger pricing and how sellers who move first gain a real negotiation edge before the market becomes crowded.

CLICK HERE >

How Tenants Can Get Ahead In A Competitive Rental Market

Renting has changed. From rising expectations to stronger competition for good homes, tenants are having to be more prepared than ever. Here is how to put yourself in the strongest position when searching for your next move.

CLICK HERE >

The Pricing Window Smart Sellers Use

Pricing in January can make or break your 2026 sale. This article explains why early year pricing works differently, how buyers behave at the start of the year and what smart sellers do to create competition rather than price cuts.

CLICK HERE >