Rightmove Adjusts 2025 Outlook – What It Means for Sellers and Buyers

The latest figures from Rightmove’s July House Price Index suggest that UK property asking prices are under pressure, driven by a sustained surge in available stock.

With the number of homes for sale still at a ten-year high, Rightmove has revised its forecast for asking price growth in 2025, reducing it from +4% to +2%. The portal notes that “the high level of seller competition is limiting price growth,” as more homeowners bring properties to market.

Despite this adjustment, Rightmove is holding firm on its transaction forecast, maintaining its prediction of 1.15 million sales across the year.

In July, the average asking price for property coming to market fell by 1.2% (or £4,531), bringing the national average to £373,709. London saw the biggest regional drop, particularly in Inner London, where prices fell by 2.1%.

While prices have softened, buyer activity remains steady:

• Sales being agreed are 5% higher than the same period last year

• Enquiries from prospective buyers are up 6% year-on-year

• New seller asking prices are just 0.1% higher than they were 12 months ago

Market Balance Shifting Toward Buyers

Colleen Babcock, property expert at Rightmove, commented on the shifting dynamics:

“We’re seeing an interesting dynamic between pricing and activity levels right now.

The healthy and improving level of property sales being agreed shows us that there are motivated buyers out there who are willing to finalise a deal for the right property. What’s most important to remember in this market is that the price is key to selling.

The decade-high level of buyer choice means that discerning buyers can quickly spot when a home looks over-priced. It appears that more new sellers are conscious of this and are responding with stand-out pricing to entice buyers and get their home sold.”

Long-Term Outlook Depends on Supply

Nathan Emerson, Chief Executive of Propertymark, also weighed in:

“The housing market is witnessing a steady return to normality following Stamp Duty threshold changes earlier this year. As we enter the summer months, when sales usually peak, it’s good to see continued resilience in pricing.

There are promising signals from the recent Leeds Reforms proposed by Rachel Reeves, which aim to improve lending options for lower-income buyers. But pricing will remain under pressure unless governments across the UK meet their housing targets to keep pace with demand.”