House Price Index

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Summer selling challenge

  % Change in month% Change Past YearAve house price
Jul HPI-1.7%2.3%£242,097
Jun HPI1.0%2.4%£246,235

Key points

  • This month’s sellers cut asking prices by -1.7% (-£4,138) the largest price drop in July for four years
  • New sellers outnumber successful buyers by nearly 2:1, with miserable ‘viewing’ weather plus Olympic distractions adding to the ‘summer selling challenge’
  • Sellers’ challenge is to make first impressions count - potential buyers spend an average of just 2.7 seconds judging a seller’s summary advert before deciding whether to take their interest further or dismiss
  • Those keen to sell this summer should get the ‘market intel’ on what it takes to improve their property’s quality, value and appeal to make a positive impression
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