From our Digital Marketing Manager
What Buyers, Sellers & Landlords Need to Know
Each month, Rightmove shares their House Price Index – an invaluable resource for the property industry. As the largest monthly resource for residential property prices and property market activity, it provides insights for everyone from property professionals who advise clients each day to first-time buyers preparing to enter the market.
Utilising resources like ONS’s Price Index of Private Rents (PIPR), we also closely monitor the lettings market, allowing us to best advise the landlords we work with across East Anglia and beyond. From the latest pricing trends to tenant demands, we’ve got you covered.
Today, we’re sharing the key stats and figures our property specialists think you should now, paired with our own industry insights and advice. So, whether you’re a first-time buyer, looking to upsize, or grow your property portfolio this summer, you’re ready to approach the UK’s property market with confidence this summer.
Sales Market: Asking prices see largest July drop in 20+ years
Pricing remains an incredibly important area of discussion, as sellers continue to compete for buyers. The average asking price across the UK fell 1.2% (£4,531) in July to £373,709 – marking the biggest July drop since records began in 2002.
Despite this sharp monthly decline, average new seller asking prices are now just 0.1% higher than July 2024. With lower mortgage rates and average wages overtaking inflation and house prices, overall residential buyer affordability continues to improve and and UK property market activity remains healthy:
- Sales agreed are up 5% year-on-year
- Buyer enquiries have risen 6%
- The average two-year fixed mortgage rate is 4.53%, compared with 5.34% (July 2024)
What’s driving this?
- A decade-high volume of homes for sale is giving buyers plenty of choice across the region and shifting power to them – meaning prices this summer are key to attracting buyer interest.
- The seasonal slowdown experienced has been intensified by the end of stamp duty breaks in April and increased council tax on second homes – further increasing the cost of property purchases.
- London, an area where properties prices are higher, saw the steepest falls (–1.5% overall; –2.1% in inner London), especially affecting higher-end and central listings.
Why it matters for our clients:
- For Sellers: It’s essential to price realistically, enhance presentation, and gather early-plus-accurate comparables. Homes priced well from day one are gaining traction.
- For Buyers: Now is a rare window to negotiate and secure value, supported by stronger market position.
- For Valuation Clients: The shift towards rational pricing underlines the importance of bespoke surveys, helping clients understand value in high-supply conditions.
Lettings Market: Rental inflation shows signs of cooling
The ONS reports that annual UK rent inflation eased from 7.0% (May) to 6.7% (June). In England, the highest private rents annual inflation was in the North East, at 9.7%, with the East of England following suit at 7.9%.
What this means locally:
- Norwich rents continue to climb, though at a moderated pace – reflecting a more balanced regional market. The average monthly rent reached £1,136 in June 2025, a 10.5% rise compared to June 2024 – an increase higher than the average rise across the East of England.
- Despite rising prices, demand persists, especially for pet-friendly or well-maintained, efficient homes. This market activity is reinforcing the value of decent condition and extras like modern heating and broadband.
Landlord implications:
- Properly priced and well-presented rentals will still draw interest and maintain occupancy in the East of Anglia, and beyond.
- Landlords should consider professional photo tours, EPC improvements, and service add-ons to further enhance appeal and justify rents.
Looking Ahead: Our Q3 2025 forecast
Market | Outlook |
Sellers | Homes accurately priced and backed by surveys will stand out in a crowded market. |
Buyers | Mortgage affordability is improving—opportunities ahead if rates fall further this autumn. |
Landlords | A more discerning tenant base rewards quality — condition and flexibility matter. |
Valuation/Survey | Demand remains high for expert insight, from pricing assurance to maintenance guidance. |
In reaction to the news, Rightmove has cut its own 2025 price growth forecast from +4% to +2%, maintaining an expectation of 1.15 million transactions, thanks to buyer activity and improving affordability.
Your Game Plan: What action should you take this summer?
- Sellers: Use a bespoke valuation to set the right price, stand out in high-stock markets, and avoid overpricing.
- Buyers: Leverage current market conditions with detailed property surveys to spot value and negotiate accordingly.
- Landlords: Focus on EPC C+ improvements, routine maintenance, and tenancy flexibility to stay competitive.
- All Clients: Local market expertise and tailored reporting are vital — underpinning decisions with trusted, professional insight.
Report details taken from the latest House Price Index by Rightmove.
Contact Our Team
Whether you’re considering your first home or a seasoned investor, you can rely on Watsons to support your journey with award-winning excellence. For more information about our property services, contact us today:
Customer Service Team
18 Meridian Way, Meridian Business Park, Norwich, NR7 0TA
t: 0333 220 1234
e: survey@watsons-property.co.uk
