June Market Update

Not so long ago we reported on a ‘mad May’ but we didn’t see June coming. The team have read the reports, followed the news coming out of Westminster and crunched the numbers. Here’s where the property market stands mid 2026.

Sellers moderated their asking price: the average UK asking price took a tumble in June. Rightmove found newly-listed homes were being advertised for £2,113 less than in May – a drop of -0.6%. We start the second half of the year with a new average asking price of £376,191.

Market heat dissipated

Price growth pegged back: Zoopla’s complete guide to property prices was released in June and its sold house price data showed a cooling market. While annual UK house prices are up +1.5% annually, values increased a mere +0.6% when looking at quarterly data. The increase was even smaller month-on-month, with house prices up just +0.1% in the last four weeks.

Regional variations noted

Northern stars shone brightest: the persistent North-South divide continued in June. The North West saw annual property values rise the most at +3.6%. The North East emerged as the most affordable region, with an average house price of £151,100. Hull was the UK’s cheapest city for buyers, with an average property value of £116,400.

Levelling off seen in some cities: Zoopla also noted that house prices in 6 of the 20 most expensive UK cities were falling, potentially leading to refreshed affordability. Examples include Prime Central London (-1.7%), Brighton (-1.0%), Worthing (-1.8%) and Bournemouth (-1.3%). The greatest value drop was recorded in Hastings at -3.1%.

New tenancy costs increased: renters securing a property in June found they paid more than what was being charged by landlords in June 2025. The findings, published by Zoopla, showed the UK average monthly rent is now £1,321. In monetary terms, rents have become £30 more expensive in the last year (+2.1%).

Rent inflation running away in affordable areas: the UK’s rental market price gap is closing, reports the portal. Rental inflation is strongest where rents are currently the most affordable. For example, rent increases in Carlisle (+9.1%), Kilmarnock (+9%) and Halifax (+6.5%) were at least triple the UK’s average inflation figure.

Expensive rental markets dropped back: a handful of notable locations recorded falling rental values, which brings balance to the UK’s average rental value. Value decreases in Birmingham (-1.1%), Nottingham (-0.9%), Cambridge (-0.6%) and Bournemouth (-1.7%) demonstrated how localised rental values can be.

Homebuying reforms underway

A three year roadmap published: England and Wales look set to finally follow Scotland’s lead. The Government announced it would reform the buying and selling process by July 2029, reducing transaction times by around four weeks. It says changes will also save an average first-time buyer £650.

Binding agreements to secure transactions: mimicking Scotland, buyers will be asked to sign binding agreements early in the process. These are designed to stop purchasers walking away and chains collapsing without good reason. Unless using an exception clause, buyers who withdraw will be fined.

Sales packs for upfront data

The HIP replacement: the Government wants the information normally only available to buyers during the conveyancing stage to be disclosed at the point of listing, mirroring Scotland’s Home Report. This would be done via a seller-commissioned sales pack. This would contain deed documents, verified seller ID, building safety information, standard search results and a property condition assessment. 

Digital first approach: also proposed is increased digitalisation of the buying and selling process, including identity checks, signatures and AI-assisted conveyancing. There will also be a consultation on a mandatory qualification for agents, as well as compulsory training.

If you would like to know more about your local property market, please get in touch.