Sep 22 2025 11:06:00

“Summer activity remained resilient, with around 2,200 newly agreed sales during August, in line with expectations and long-term trends. Both house prices and headline rents have increased by 6–7% over the past year, although the pace of growth continues to moderate.

“Looking ahead, we expect the second half of 2025 to deliver broadly stable market conditions, underpinned by strong demand. Search activity and enquiries to estate agents remain at multi-year highs, signaling continued buyer interest. Rental demand also remains exceptionally high by historic standards, though there is growing evidence that conditions are beginning to soften.

“However, the economic backdrop remains uncertain. Inflation remains high and continues to concern policymakers, while overall growth remains subdued. Further interest rate cuts are far from guaranteed, meaning mortgage affordability is unlikely to materially improve in the coming months.”