Rightmove Price Index - What It Means For Sussex Sellers
We've summarised the Rightmove Price Index Report for July 2025 for you, which saw the sharpest summer asking price drop in over 20 years, but it’s not the red flag it might seem. Prices are still slightly up year on year, mortgage rates are softening, and buyer demand hasn’t disappeared.
July’s asking prices take their sharpest summer dip in 20+ years
Rightmove’s latest House Price Index shows the average asking price for new listings has dropped by 1.2% this month. That’s about £4,500 off, and the biggest July fall since 2005.
It’s a clear sign that more sellers are adjusting their expectations to stay competitive.
Buyer affordability improving
Despite the dip, asking prices are still slightly up year on year by 0.1%. With wages rising faster than inflation, buyer affordability is actually improving. Combine that with the recent drop in mortgage rates, and buyers are starting to feel like they’ve got a bit more breathing space.
London’s wobble vs. the North East’s climb
Inner London saw the sharpest drop at -2.1%, thanks to tax changes and a cautious prime market. The North East, on the other hand, bucked the trend with a 1.2% rise. It’s a reminder that the market isn’t one size fits all. Regional shifts are pulling in different directions.
In Sussex, we’re somewhere in the middle. We're still seeing good demand, especially for well located family homes, but buyers are looking for value. Properties that are priced to stand out are the ones getting viewings and offers.
Buyer activity still healthy
Even with more stock on the market than we've seen in a decade, sales agreed are up 5% year on year, and buyer enquiries are rising by 6%. So while there’s more competition for attention, the demand is very much still there, especially if your pricing hits the mark.
Mortgage rates heading in the right direction
Average two-year fixed rates are down to 4.53%, from over 5.3% this time last year. That means monthly savings for most buyers, and if the Bank of England does cut rates later this year, it could open things up even more. For those waiting, this shift might give them encouragement to act sooner rather than later.
What this means for sellers in Sussex?
- It’s not the time to test the waters with ambitious pricing, buyers are savvy and have choice.
- Homes with kerb appeal, modern interiors, and realistic pricing are selling well.
- Local market knowledge is more important than ever. What’s working in Brighton isn’t always right for Shoreham or Lewes.
Looking ahead
Rightmove’s revised forecast sees asking prices ending 2025 up around 2%, not 4% as originally predicted. Still, they expect over a million sales this year, which is a solid marketplace. With affordability moving in the right direction, we could see a stronger finish to the year than many expected.
What's Our view?
This isn’t a market to be concerned with, it’s one to engage with smartly. If you’re selling, get the price right early and use buyer interest to your advantage. For buyers, there’s choice, negotiation power, and improving finance options. That’s a rare combination!
Most will admit that prices have dipped a little, but this is still a moving market with plenty happening.
It’s more balanced, and in many ways, more transparent. That’s a good thing for both sides of the table in our opinion.
Would it help to chat about how this affects your plans? We're always happy to talk property.