The average asking price of a UK property has dropped by 0.3%, but according to an Ilkley estate agent and Rightmove, the local housing market has bucked the trend.
The UK drop is due to a surge of new properties coming onto the market, but Yorkshire and The Humber was one of the few regions that bucked the trend, with modest price growth.
Rightmove described the national house price dip as ‘unusual’ for June, as new sellers lower their price expectations amid decade-high competition to secure buyers.
However, the property search giant revealed that in Yorkshire and The Humber, asking prices increased, albeit by a modest 0.2%, which means asking prices in the region are 1.9% higher than this time last year, with the average home priced at £258,839. This compares to year on year price growth of 0.8% nationally.
Rightmove also highlighted how many southern regions and London have seen larger price drops this month, due to higher stamp duty charges and greater increases in available homes for sale.
According to Rightmove, buyer activity remains resilient, and May saw the highest number of sales agreed in any month since March 2022. Buyer demand is now 3% ahead of this time last year, while the number of homes coming to market is 11% ahead.
Patrick McCutcheon, head of residential at Dacre, Son & Hartley in Ilkley said:
“Significantly increasing stock levels and thus choice, mean buyers continue to take advantage of purchase opportunities despite economic and political headwinds.
“In Yorkshire in 2025 our average sale agreed price to asking price remains at around 98.5%. We also have around 20% more homes for sale compared to this time last year and our sales volumes are up by approximately 30%. Ultimately, well-presented and attractive properties marketed at the right price are selling.”
Colleen Babcock, property expert at Rightmove, said:
“It appears that we’re now seeing the decade-high level of homes for sale, and the recent stamp duty increases in England, have a delayed impact on new sellers’ pricing. Prices have fallen this month after the new records set in April and May. Agents have been telling us that sellers need to set a competitive price to have a better chance of finding a buyer in the current market, and it looks like many are listening and responding to that message. Such realistic pricing will remain key in the coming months. Underneath the headline figures, we can see regional variations in price changes this month, which appear closely linked to buyer affordability and supply levels.
“It’s an encouraging market for those looking to buy, with a very good choice of homes for sale, which also means they have good negotiating power. Some buyers with a home to sell in the current high-supply market may achieve a lower price on their own sale, but could look to offset that by negotiating a comparable discount on their purchase. The fact that sales are being agreed not only at a good level, but at the strongest level since March 2022, is a really positive sign that many are getting their sales tactics right. Rightmove’s analysis shows that homes which are marketed as effectively as possible and priced right at the start of marketing will get the all-important early interest that vastly increases the likelihood of finding a buyer.”
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