UK house prices drop 2 per cent – the sharpest August fall since 2018

• The average asking price for newly listed properties in Britain fell by 2.0 per cent in August to £364,999, marking the sharpest August drop since 2018.
• Property platform Rightmove has downgraded its 2026 house price forecast to between flat growth and a 2 per cent decline over the full year.
• The volume of homes available for sale has hit a 12-year high for this time of year, prompting sellers to price more competitively.
• Regional housing trends show asking prices increasing by 1.9 per cent annually in the North West of England, compared to a 3.1 per cent fall in London.
• Average monthly rents on newly-let properties rose by 1.9 per cent year-on-year to £1,401 in July, representing the fastest rental growth in 19 months.

IN FULL

UK house prices see biggest August drop since 2018 as sellers slash asking prices