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UK Property Asking Prices Fall as Heatwave and World Cup Distract Buyers
Recent Trends in the UK Property Market
Impact of External Events on Buyer Activity
LONDON, July 20 (Reuters) – Asking prices for newly advertised British houses and apartments recorded an unusually large fall in the four weeks to July 11, as the men’s soccer World Cup and record temperatures distracted buyers who also face high borrowing costs, property website Rightmove said on Monday.
Monthly Price Changes
Prices for property put on sale dropped by 1.0%, compared with the previous month, bigger than the average 0.2% fall for the period over the past 10 years.
Key Findings from Rightmove
Annual Price Comparison
• Asking prices were 0.4% lower than a year earlier, after a 0.5% annual drop in June
Mortgage Interest Rate Trends
• The average two-year fixed mortgage interest rate fell to 4.92% from 5.07% in June but was up from 4.25% in February
Sales Volumes and Housing Supply
• Sales agreed in the first half of 2026 were 6% below their level a year earlier but were similar to volumes in the first six months of 2024
• The number of homes available for sale fell 1% compared to a year earlier but was close to a 12-year high for the time of year
Editorial Note
(Writing by William Schomberg; editing by David Milliken)
