UK house sellers have trimmed their asking prices by 0.3% in the period from May 11 to June 7, 2025, according to Rightmove, marking the biggest June drop since 2011. Traditionally, June sees a seasonal uplift in asking prices, but this year, the market is cooling as buyer affordability is squeezed and more listings flood the market.
The drop, while modest in percentage terms, defies the usual trend of a 0.4% increase at this time of year and may be a sign that the market is returning to more normal, pre-pandemic conditions. Rightmove said the average asking price now sits at £375,110, although recent reporting suggests this may still reflect figures from 2024, with updated data likely coming soon.
This shift comes amid growing stock levels, cautious buyers, and persistent cost-of-living concerns, all factors that are reshaping the dynamics of the property market.
Contextualising the 0.3% Price Drop
Rightmove’s latest monthly index shows that average asking prices dipped for newly listed properties, a departure from typical seasonal behaviour. This is the largest June fall in over a decade and reflects more competitive pricing by sellers in response to rising stock and economic headwinds.
Tim Bannister, Director of Property Science at Rightmove, explained: “This month’s figures suggest that some sellers are having to temper their price expectations, especially in areas where stock levels have built up.” The decline may not signify a housing downturn, but it does suggest that sellers are adapting to a more balanced marketplace where buyers now have more negotiating power.
Stock Surge Offers Buyers More Choice
One of the primary drivers behind the price moderation is an increase in available homes. The number of properties listed for sale is up 14% compared to this time last year, giving buyers more choice and softening the seller’s market that dominated 2021–2023.
This increase in supply is encouraging more cautious behaviour from buyers, who are taking their time, assessing options, and avoiding overbidding, a stark contrast to the frenzy seen during the pandemic-driven boom.
Stamp Duty and Mortgage Pressure
While interest rates have stabilised somewhat, the costs associated with buying a home remain high. Stamp duty, in particular, continues to be a factor influencing budgets, especially for upsizers or buyers in higher price bands.
Although there have been calls for reform, current stamp duty thresholds are still dampening enthusiasm for larger property transactions. Buyers are doing the maths carefully, and that’s influencing how much they’re willing to offer, even when more homes are available.
Buyer Behaviour: From Urgency to Caution
Buyers are no longer rushing to secure homes in fear of rising prices. Instead, they’re behaving more cautiously, a trend that reflects broader concerns around affordability and economic uncertainty.
Time-to-sale data supports this shift: properties are taking an average of 62 days to go under offer, up from 55 days a year ago. This indicates a less frenzied, more deliberative market which, while slower, may be more sustainable in the long term.
What Sellers Need to Know
For sellers, the takeaway is clear: pricing competitively is key. In regions with higher stock levels, overpricing can quickly lead to reduced interest or stale listings.
Rightmove advises sellers to work closely with estate agents to price realistically from the outset. As Bannister notes: “Sellers who are motivated to move this summer are having to listen to market feedback and sometimes price more conservatively.”
Conclusion
The 0.3% fall in asking prices during the latest June reporting window signals a softening in the UK housing market, driven by increased supply and constrained affordability. While it’s not a cause for alarm, it does suggest that the frenetic pace of recent years is giving way to a more considered environment, one where buyers take their time and sellers must be more flexible.
This trend may continue into the summer as economic uncertainty, mortgage costs, and tax burdens weigh on decision-making. However, for first-time buyers or those looking to upsize, the shift could offer a rare window of opportunity in an otherwise challenging market.
Frequently Asked Questions
hy did UK asking prices fall in June 2025?
Asking prices fell due to increased property listings, affordability pressures, and a shift in buyer behaviour from urgency to caution.
How does this compare to previous Junes?
This is the largest June drop since 2011. Typically, asking prices rise slightly in June due to seasonal demand.
Are buyers gaining more power in the market?
Yes, with more homes available and longer time-to-sell, buyers can negotiate more and are taking longer to make decisions.
What does this mean for sellers?
Sellers need to price more competitively and realistically, especially in areas with higher stock levels or slower-moving markets.
