The average price of property coming to the market for sale in August 2025 has fallen by 1.3% (-£4,969), down to £368,740, according to Rightmove.

Lower asking prices and good buyer choice are continuing to boost sales activity reports Rightmove, with the number of sales 8% up on 12 months ago and the number of homes for sale 10% higher as well.

Colleen Babcock, property expert at Rightmove, said: “Savvy summer sellers have read the room and are coming to market with even more competitive pricing than usual to really stand out and attract serious and active buyers. Astute buyers are now benefitting from new seller asking prices which are on average an enticing £10,000 cheaper than three months ago. Buyers have the upper hand in this high-supply market, so a tempting price is vital to agree a sale. The strategy is working, with the number of sales agreed in the full month of July being the best at this time of year since 2020.

“However, the high number of price reductions we’re seeing is an indicator that some sellers are still coming to market with too high a price and then reducing it to become competitive. Our data shows that for a successful sale it’s better to get the price right in the first place, but if a seller does need to reduce the price it’s better to act fast rather than waiting too long.”

There are 34% of properties for sale at a reduced price and the average time to find a buyer is now 62 days, however, it takes an average of 32 days to find a buyer if a property doesn’t need a price reduction, versus 99 days if it does,

The Bank of England’s third rate cut of the year helps buyer optimism and affordability further as Rightmove’s daily mortgage tracker shows that the average two-year fixed mortgage rate is now 4.49% compared with 5.17% at this time last year.

Babcock said: “An active autumn will certainly be helped by the recent third interest rate cut of 2025 by the Bank of England. While we don’t expect the cut itself to spark major mortgage rate drops, it’s good for market sentiment and buyer optimism. Mortgage rates have been slowly trending downwards this year, and someone looking at the average home could expect to save over £100 a month on a new mortgage compared with last year.”