August House Price Index 2026: Buyer demand bounces back, but pricing remains crucial
August’s Rightmove House Price Index reflects the usual summer slowdown in the UK property market, with asking prices falling more sharply than normal. But look beyond the headline and there are encouraging signs as the market heads towards autumn.
According to Rightmove, the average asking price of a newly listed property fell by 2.0% (£7,360) in August to £364,999 – the largest August fall since 2018 and 1.0% below this time last year. Asking prices typically fall at this point in the year, although the ten-year average August drop is a more modest 1.3%.
But this month’s UK property market figures aren’t simply a story about falling prices. Buyer demand has increased by 5% since 20 July, offering some welcome momentum following a summer shaped by holidays, hot weather, the World Cup and wider uncertainty.
At the same time, the amount of property available for sale remains at its highest level for this time of year in 12 years. Buyers are returning, but they have considerably more choice.
A welcome bounce in buyer demand
The 5% increase in buyer demand provides some positive momentum ahead of September, traditionally one of the busier periods in the property calendar.
Buying activity remains around 10% below last year’s particularly strong market, but the recent uplift suggests there is still an appetite to move as we head towards autumn.
What has changed is the amount of choice available to those buyers.
More stock puts pricing firmly in focus
There are now more homes available for sale than at any comparable point in the past 12 years, making stock one of the defining features of the current property market.
With several comparable properties often available within the same location and price bracket, buyers can be more selective. That makes accurate pricing from the outset increasingly important for anyone thinking of selling their home.
Launching at an ambitious figure to ‘test the market’, with the option of reducing later, can be less effective when buyers have alternatives available immediately. A reduction several weeks later may reposition a property, but it cannot necessarily recreate the impact of those important opening weeks.
Pricing competitively doesn’t mean pricing cheaply. It means understanding comparable sales, current competition and local buyer demand to establish where a property genuinely sits in today’s market.
Rightmove’s analysis continues to reinforce the importance of getting that initial positioning right, with sellers entering the market at competitive prices giving themselves a greater chance of finding a buyer and successfully completing their move.
Has political change given the market a boost?
The change in government has added another dimension to the property market. Buyer demand has increased by 5% since Andy Burnham became Prime Minister on 20 July, although it remains too early to attribute the bounce directly to the change in leadership.
Rightmove notes that the political change and confirmation that property tax will remain unchanged in October’s Budget have brought greater clarity to the market, potentially helping to support confidence as we head into autumn.
The North continues to show resilience
National house price averages continue to mask considerable regional variation.
While average asking prices across southern England are 1.8% lower year-on-year, northern England remains 1.5% higher.
Yorkshire & The Humber, which includes Sheffield, currently stands at £255,956, up 0.9% annually despite a 1.5% monthly fall. The East Midlands stands at £288,536, down 1.0% annually. By comparison, London is 3.1% lower year-on-year and the South East 2.1% lower.
It reinforces an important point: property is local. Supply, demand, affordability and buyer behaviour can vary considerably between regions, towns and individual postcodes.
For homeowners in Sheffield, Chesterfield, Dronfield, and the surrounding areas, understanding what is happening within the local property market is therefore just as important as following the national headlines.
The Redbrik view
August’s 2.0% fall in asking prices will inevitably attract attention, but it shouldn’t be viewed in isolation. Seasonal price falls are not unusual at this time of year, buyer demand is showing signs of recovery and northern England continues to demonstrate resilience.
The increase in available stock has, however, changed the dynamic. Buyers have options, making accurate pricing and strong property presentation from the outset increasingly important.
As we approach the traditionally busier autumn property market, there are encouraging signs. But with more homes available for sale than we have seen at this time of year for over a decade, sellers need to understand how their property sits against the competition and get the price right from day one.
Whether you’re considering selling your home in Sheffield, Chesterfield, Dronfield, or the surrounding areas, or simply want to understand what the changing property market means for your home, our local teams are here to provide honest, evidence-led advice.
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