by Dee Quealy
The summer property market has delivered another shift this month, with asking prices recording their largest August fall since 2018.
The average price of a newly listed home has fallen by 2.0%, a noticeably bigger drop than we would usually expect at this point in the summer. Buyers currently have plenty of choice, while holidays, hot weather and a busy summer have all added to the usual seasonal slowdown.
There are, however, some more encouraging signs. Buyer demand has increased since the change of Prime Minister in July, and sales are continuing to be agreed where properties are well presented and realistically priced.
For homeowners in Kent, the message remains much the same: buyers are out there, but in a competitive market, getting your price and marketing strategy right from the beginning really matters.
Asking Prices See A Bigger August Drop
According to the latest Rightmove House Price Index, the average asking price of a newly listed property fell by 2.0% in August, a reduction of £7,360.
This brings the national average asking price to £364,999, compared with £372,359 in July.
August often brings a seasonal dip as holidays temporarily take some buyers and sellers away from their property plans. This year, however, the fall is much larger than usual and is the biggest August reduction recorded since 2018.
Average asking prices are also now 1.0% lower than this time last year, the largest annual fall since December 2023.
Buyers Have Plenty Of Choice
One of the biggest influences on the current market is the sheer number of properties available.
There are now more homes for sale than at any other August since 2014. For buyers, that means more opportunity to compare properties, locations and asking prices before deciding where to arrange a viewing or make an offer.
For sellers, it means competition.
A property needs to capture attention when it first comes to market. An ambitious asking price can make that more difficult, particularly when buyers can easily compare your home with several similar alternatives.
Rightmove's figures show just how important getting the price right can be. Nearly three-quarters of homes that have sold so far this year have managed to do so without needing an asking price reduction.
Starting in the right place can help maintain momentum and put sellers in a stronger position from the outset.
A Growing North-South Divide
The national average only tells part of the story, with significant differences emerging between different parts of the country.
Prices across northern England are around 1.5% higher than August 2025, while Scotland has also recorded annual growth of 1.1%.
Southern England is facing more price pressure, with average asking prices around 1.8% lower than a year ago. London has experienced the largest annual fall at 3.1%, alongside its greatest choice of available homes since 2010.
This is an important reminder for Kent homeowners that national house price headlines should always be viewed in context.
The value and saleability of a property will ultimately depend on its individual location, condition, type, presentation and the competition currently available nearby.
Is Buyer Confidence Beginning To Improve?
There has been a small but welcome bounce in buyer demand over the past month.
Since Andy Burnham became Prime Minister on 20 July, Rightmove has recorded a 5% increase in buyer demand.
It is far too early to suggest that the change in government leadership is responsible for a longer-term shift in the housing market, but greater certainty around the forthcoming Budget could help buyers and sellers make plans with more confidence.
The announcement that there are no plans to change property taxation in October's Budget removes one potential concern for people considering a move this autumn.
Rightmove has, however, revised its forecast for national asking price growth across 2026 to between 0% and -2%, reflecting mortgage rates, wider economic uncertainty and the potential impact of the Budget.
Forecasts are subject to change and should not be relied upon as a guarantee of future market performance.
What Are Mortgage Rates Doing?
Mortgage rates have edged higher again this month.
Rightmove's mortgage tracker shows the average two-year fixed mortgage rate at 5.09%, compared with 4.95% last month.
Ongoing uncertainty in the Middle East and wider economic conditions continue to influence lender pricing.
While some indicators suggest mortgage rates could move lower if conditions become more favourable, there are no guarantees. The encouraging point for buyers is that the mortgage market remains competitive, with lenders continuing to compete for business.
Anyone planning a move should look carefully at their individual borrowing options rather than assuming the headline average rate will necessarily be the rate available to them.
Pricing Matters More Than Ever
August's figures reinforce something we regularly discuss with sellers at Quealy & Co.
Pricing competitively does not mean undervaluing your home.
It means understanding where your property sits within today's market and taking account of recent local sales, current competing properties, buyer demand and the individual features that make your home attractive.
When buyers have plenty of choice, the first few weeks after launching a property can be particularly important.
Strong photography, thoughtful presentation, effective marketing and an asking price supported by local evidence can all help a home stand out and encourage serious buyers through the door.
What Does This Mean For Kent?
Across Kent, people are still moving.
The market may be more price-sensitive than it was previously, but motivated buyers have not disappeared. In fact, the recent increase in buyer demand provides a positive signal as we approach September, traditionally an important period for the property market.
The homes best placed to attract interest will be those that launch with a clear strategy, realistic expectations and marketing that gives buyers a reason to choose them over the competition.
If you are thinking of selling, relying on national averages or an automated valuation alone will not tell you how your particular home is likely to perform.
That requires genuine local market knowledge.
Thinking Of Selling Your Kent Home?
With more properties competing for buyers, understanding the right asking price and marketing strategy before you launch has never been more important.
If you are considering a move this autumn, the Quealy & Co team can give you an honest, evidence-based assessment of your property's current value and advise you on the best way to take it to market.
Book your free, no-obligation property valuation in Kent:
https://www.quealy.co.uk/properties-valuation
Alternatively, call 01795 429836 or email hello@quealy.co.uk to speak with our experienced local team.
Source: Rightmove House Price Index, August 2026.
