UK House Prices See Biggest June Fall in 14 Years

UK property asking prices fell by 0.6% in June, equivalent to £2,113, marking the steepest drop for the month in 14 years . The average asking price across Britain now stands at £376,191, according to Rightmove .

Key Points:

• June typically sees modest price increases (0.1% average over the past decade) 

• More affordable regions like the North East and Scotland are holding up better 

• Buyers are taking longer to make decisions, with more homes to choose from 

Why It's Happening:
Colleen Babcock, property expert at Rightmove, cited "a combination of factors, including wider economic uncertainty, the timing of the May bank holiday and unusual heatwave, and the high number of homes on the market" . The football World Cup may also be distracting potential buyers .

Market Insight: Nathan Emerson, CEO of Propertymark, said the figures suggest "the market is continuing to find a more sustainable balance, rather than experiencing a loss of confidence" . Jeremy Leaf, a north London estate agent, added that sellers "have been obliged to accept a larger dose of realism" on asking prices