The UK housing market took its expected summer breather this August as the average asking price dipped by 1.3% to £368,740. While some may raise an eyebrow at the decline, seasoned market watchers will note this aligns perfectly with the typical seasonal dip seen between July and August over the past five years.
The cooling was not uniform across the country. Wales stood firm with prices holding steady while other regions followed the broader trend. London experienced the sharpest fall at 2.6%, followed by Yorkshire and The Humber at 1.9%. These adjustments highlight a common theme: sellers are choosing more realistic pricing strategies in order to attract buyers during a month that is usually overshadowed by summer holidays.
Yet behind the seasonal dip another story is emerging. The backdrop of declining interest rates combined with a strong supply of properties has supported confidence in the market. As a result buyer demand has risen by 11% compared with last year, which is a striking contrast to the slowdown usually associated with August.
The question now is whether this momentum can carry forward. History suggests it can. Between 2021 and 2024 new seller asking prices increased by an average of 0.6% from August to September as the academic year encouraged households to refocus their priorities and as activity gathered pace again. If this pattern continues, this year’s strong summer sales may provide the foundation for a vibrant autumn market.
For both buyers and sellers the message is clear: the seasonal dip may have made headlines, yet the figures reveal a market full of opportunity.
