Asking prices for newly listed UK homes fell 1.2% in July, the sharpest drop for that month in over 20 years.
Sellers are pricing more competitively amid high inventory levels and increased buyer sensitivity to overpricing.
Rightmove cut its 2025 price growth forecast to 2% from 4%, despite sales running 5% above 2024 levels.
Falling mortgage rates and strong wage growth are improving housing affordability.
This article was written by Eamonn Sheridan at investinglive.com.