Malcolm Prescott, Managing Director of Webbers –explains “I have had the privilege of observing the housing market through many changing seasons over the last 35 years or so, but the pattern remains broadly the same”.
“June’s housing data, as revealed by the latest Nationwide House Price Index, offers a moment of pause – but not concern. While it shows a softening in price growth and a modest monthly fall, this is no more than a natural recalibration following an exceptionally active start to the year and recent changes to Stamp Duty thresholds, you could say that house prices have taken a breather in June”
The Nationwide index recorded a 0.8% fall in average house prices between May and June, bringing the typical UK house price to £271,619. This is the largest month-on-month decline since November 2022. On an annual basis, price growth slowed to 2.1%, down from 3.5% in May.
This cooling follows the Stamp Duty changes implemented in April, which had front-loaded buyer activity into the early months of 2025. As Robert Gardner, Nationwide’s Chief Economist, notes, “The softening in price growth may reflect weaker demand following the increase in Stamp Duty.”
Despite this, the fundamentals remain strong. Low unemployment, rising real incomes, and robust household balance sheets provide a supportive backdrop, especially as interest rate cut expectations grow.
Regional Variations Paint a Mixed Picture
Within England, the North led the way with a 5.5% annual increase, reflecting the narrowing of the traditional north-south divide. Across Northern England as a whole, prices rose 3.1% year-on-year, compared to 2.2% in Southern England. This rebalancing is something we at Webbers are acutely aware of – with demand strengthening across both primary residences and second homes in our rural and coastal markets.
At Propertymark, Nathan Emerson provided reassurance, citing “stability within the housing market” despite elevated interest rates and wider economic uncertainty. His organisation notes that stock levels per branch are up nearly 20% compared to the same period last year – a positive signal for buyers and sellers alike.
A Summer of Opportunity?
At Webbers, our teams are seeing genuine buyer commitment across our offices, especially in lifestyle-led relocations, new homes, and first-time purchases. The market, or some properties are re-adjusting, which is not the market declining – and well-priced, well-presented properties are still securing strong interest.
With inflation expected to continue its slow descent and interest rate cuts on the horizon, the remainder of 2025 could see a gradual return to momentum.
For sellers, this means understanding the current climate: pricing realistically, being flexible, and working with experienced local agents who know how to navigate shifts like these. For buyers, this presents opportunity – with more choice and potentially less competition.
