Furthermore,
Rightmove reports record fall real:
The prices displayed for the newly sold houses. Moreover, apartments in the United Kingdom have recorded their highest decline for a month in July for more than twenty years, the Rightmove real estate site announced on Monday.
The prices of goods put on sale during the period of July of Rightmove – which extends from June. For example, 8 to July 12 – were 1.2% lower than those of goods sold a month earlier. Consequently, the greatest fall between June and July since the start of the series in 2001.
Compared to last year, the prices displayed were up slightly 0.1%.
“With a number of accommodation available at a record level for ten years. summer sellers set even more competitive prices to attract the interest of buyers,” said Rightmove.
British real estate sales had rebounded sharply at the start of the year rightmove reports record fall real before falling brutally after the end. of a temporary tax exemption on numerous purchases in April.
“Informed buyers quickly spot when a property seems to be overvalued compared to many others available in their sector. ” said Colleen Babcock, real estate expert at Rightmove.
Although the volume of sales remains approximately 5% above the 2024 levels. Rightmove has indicated to revise its prices rise forecast for all 2025, from 4% to 2%, due to the strong competition between sellers. In total, Rightmove anticipates 1.15 million real estate transactions in 2025.
The most marked drop was recorded in central London, with a monthly decline of 2.1%, while the highest increase was observed in northeast England, where prices increased by 1.2%.
Earlier this month. Nationwide Building Society, the second largest mortgage lender in the country, announced that its property price index had dropped 0.8% in June, the highest monthly drop, adjusted in rightmove reports record fall real seasonal variations, since November 2022.
The official data, which is based on transactions actually concluded, show that the prices of housing in May were 3.9% higher than those of the previous year, a clear decrease compared to the annual growth of 7.0% recorded in March.
Rightmove stresses that the more moderate price increase. combined with a high increase in wages and the decline in mortgage rates, helps make access to property more affordable. Typical mortgage rates over two years fell to 4.53% against 5.34% last year, while the average salary increased by 5.0% over a year until May.
Rightmove reports record fall real
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