Rightmove warned that prolonged policy speculation — including rumours of a land value tax replacing stamp duty and council tax — risks deterring prospective movers who may hesitate for fear of acting at the wrong time. The property platform’s data shows the number of new developments coming to market is at its lowest level since January 2017.
Five-year asking price trend
Source: Rightmove, July 2026
Summer distractions and high supply
Beyond the political backdrop, buyer activity has been dampened by the summer holiday season, the World Cup, and a succession of heatwaves. Although the number of homes available for sale is 1% below the same point last year, it remains near a 12-year high for the time of year. Rightmove’s data shows the first heatwave in May caused a temporary 8% drop in buyer demand, followed by a 6% decline during June’s heatwave and a further 4% dip in the current July heatwave.
“This month’s larger-than-normal price fall reflects the reality of a market where buyers have plenty of choice and sellers are having to work harder to stand out and attract them,” said Colleen Babcock (pictured right), property expert at Rightmove.
“They’re also competing with an unusual number of distractions which have been keeping the minds of some potential buyers occupied, namely the World Cup and the hot weather. While these diversions are short-term, they’re adding to what is already a distracting summer holiday period to create a challenging selling environment.”
Sales volumes and pricing strategy
The number of sales agreed in the first half of 2026 was 6% lower than in the same period last year, following disruption caused by the outbreak of conflict in Iran, which pushed already elevated mortgage rates higher. Sales agreed nonetheless remained broadly level with 2024, suggesting buyers are still proceeding when a property and its price meet their needs.