The average asking price for newly listed homes across Britain has decreased by 2% over the past month, representing the largest August price drop in eight years, data from property website Rightmove shows. This national figure equates to a £7,360 reduction in the average newly listed asking price.
London experienced the most significant drop, with new asking prices falling by 4.4% in the last month, a reduction of almost £30,000. In the Royal Borough of Kensington and Chelsea, the average new asking price is now £1,552,970, down from £1,648,148 a month ago, a difference of just over £95,000.
Rightmove noted that the number of available homes for sale in London is at a 16-year high, leading to increased competition among sellers. Colleen Babcock, a property expert at Rightmove, stated that this larger-than-usual August price drop indicates sellers are pricing more competitively from the outset.
Separate data from estate agent Hamptons indicates that buy-to-let investors are increasingly making lower offers. In July, landlords accounted for 14.1% of all home purchases in Great Britain, up from a 12.4% year-to-date average. The average landlord buyer paid 88.7% of the initial asking price in July, with 56% of investor offers being at least 10% below the initial asking price.
Sellers are increasingly accepting these lower offers. In July, 27% of offers from investors that were 10% or more below asking price were accepted, an increase from 18% in July 2025. For leasehold properties, this figure was even higher at 41%.