August is traditionally one of the quieter months in the property calendar, with holidays, warmer weather and family plans temporarily taking some attention away from moving home. This year, however, there are some interesting signs beneath the headline figures.
Sellers are becoming more competitive on price, buyers have one of the widest selections of homes seen in years, mortgage approvals have started to recover following May’s fall, and Rightmove has recorded an increase in buyer activity since Andy Burnham became Prime Minister.
For anyone thinking about moving home in Northumberland , August could therefore be less about waiting for autumn and more about spotting opportunities while other people are distracted by summer.
Buying: More Choice and Signs of Renewed Confidence
One of the biggest advantages for buyers this summer is choice.
The latest Rightmove House Price Index shows that the average asking price of a newly listed property fell by 2.0% in August to £364,999. Prices normally fall at this point in the summer, although this year’s reduction is larger than the 10-year August average of 1.3%.
Importantly, the number of homes available for sale is now at a 12-year high for this time of year.
For buyers, that combination of greater choice and more competitive asking prices can create an interesting window. It provides an opportunity to compare homes properly, revisit properties and potentially negotiate where a seller is keen to secure their onward move.
There are also early signs of improving sentiment. Rightmove reports that although buyer activity remains around 10% below last year, buyer demand has risen by 5% since Andy Burnham became Prime Minister on 20th July. By comparison, activity fell by 2% during the equivalent period last summer.
Mortgage activity has also improved from the sharp fall seen earlier in the summer. The latest Bank of England figures show mortgage approvals for house purchases increased to 58,200 in June, up from 56,600 in May. Net mortgage borrowing also increased substantially, from £3.3 billion in May to £7.7 billion in June.
Tip for buyers:
Do not automatically assume September will produce a better opportunity. A seller who has deliberately chosen to market during August may have a genuine reason for wanting to move. If you find the right home and your finances are organised, there may be an opportunity to have a sensible conversation about price.
Selling: Competitive Pricing Can Get You Moving
A 2.0% fall in new asking prices might initially sound discouraging for sellers, but there is another way to look at the figure.
It suggests sellers are responding to the market.
With more properties available, ambitious pricing can result in a home being overlooked. Sellers entering the market at a realistic level have a better opportunity to attract attention while competing properties remain anchored to higher expectations.
Rightmove’s figures also show just how different local markets have become. Average new seller asking prices across northern England are 1.5% higher than a year ago, while prices across southern England are 1.8% lower. The North West recorded annual asking-price growth of 1.9%.
This is an important reminder that national headlines cannot tell you what your individual home is worth.
The latest official ONS figures also provide some useful perspective. Average UK house prices increased by 2.7% in the 12 months to May 2026, reaching £271,000.
Average prices reached £292,000 in England, £215,000 in Wales and £196,000 in Scotland. Wales recorded annual growth of 4.2%, while Scotland recorded 4.4%.
For sellers, the lesson is simple: price for the market you are selling in now, not the market you remember from two or three years ago.
Tip for sellers:
If you are selling and buying at the same time, look at the move as one transaction rather than becoming fixated on your selling price. Accepting £10,000 less for your current property may not be a loss if you can negotiate £15,000 on the home you are buying.
That calculation can completely change how an offer looks.
One Thing Sellers Should Do This Month: Sell the Lifestyle
August gives sellers something that January cannot: the opportunity to show how a property actually works during summer.
If you have a garden, patio, balcony or attractive outside space, use it. Cut the lawn, trim planting, clean outdoor furniture and create somewhere buyers can imagine sitting with a coffee or having friends over.
Inside, maximise natural light. Clean windows, open blinds and remove anything blocking light from entering rooms.
There is another advantage to summer viewings. Buyers can see the surrounding area properly. Nearby parks, walking routes, village centres, cafés and outside spaces can all form part of the reason somebody chooses one home over another.
Selling a property is partly about bricks and mortar, but buyers are also deciding what their Saturday morning might look like if they lived there.
Lettings and Landlords: Rental Growth Continues at a Calmer Pace
The rental market remains active, although rent growth is considerably calmer than during the sharp increases of previous years.
The latest available Office for National Statistics figures show average UK private rents increased by 3.3% in the 12 months to June 2026, reaching £1,388 per month.
Average monthly rents reached £1,446 in England, £843 in Wales and £1,012 in Scotland.
There are sizeable regional differences too. Within England, the North East recorded the strongest annual rental growth at 6.3%, while London recorded the lowest at 2.2%.
The slowing rate of rental growth could ultimately prove helpful for both sides of the market. Tenants gain a little more stability when budgeting, while landlords benefit from a rental sector where demand for good-quality homes remains established.
For landlords, the emphasis should increasingly be on retaining good tenants and offering a property that represents fair value rather than automatically pursuing the maximum possible rent.
Tip for landlords:
Think about the small reasons somebody might choose to stay for another year. Fast maintenance responses, good communication, reliable heating, decent storage and a well-kept property can make moving feel far less attractive to a good tenant.
Tip for renters:
If you are planning an autumn move, start watching the market now. It will give you a much better understanding of what different property budgets actually buy in Northumberland before you need to make a decision.
Market Insight of the Month: The Headline Price Doesn’t Tell the Whole Story
This month’s most interesting statistic may not be the 2.0% fall in asking prices.
It is the amount of property available.
Rightmove says buyers now have more homes to choose from at this point in the year than at any time for 12 years.
That changes the psychology of a market.
Buyers can compare more properties. Sellers have to compete harder for attention. Overpriced homes become easier to spot because there are more alternatives sitting beside them on property portals.
But there is a positive side for sellers too.
Greater choice encourages people to start looking because there is a better chance of finding something they actually want to buy. And a seller who prices correctly from the outset can stand out against homes that have been sitting on the market with unrealistic expectations.
The takeaway?
A market with lots of choice does not have to be a bad market. It can simply be a market where realistic buyers and realistic sellers are more likely to find each other.
The ‘Burnham Bounce’: Could Autumn Be Busier?
One of the more unexpected developments this summer has been the change in sentiment following Andy Burnham’s arrival as Prime Minister.
Rightmove has described a “mini Burnham bounce”, reporting a 5% increase in buyer demand since he took office on 20th July.
The new Prime Minister has also ruled out property tax changes in October’s Budget. That removes one potential reason for buyers and sellers to delay decisions while waiting to see whether the tax position changes.
It is far too early to describe this as a lasting shift, but greater political certainty combined with a large selection of homes could help create a more active autumn market.
Burnham has also put housing on his early political agenda. In his first speech as Prime Minister he pledged to build more council homes, while his government’s first housing initiative included £340 million of funding aimed at tackling long-term rough sleeping.
For the wider property market, the next questions will be around housebuilding, planning, infrastructure and affordability.
What Buyers Are Thinking Right Now
For several years, buyers often had to concentrate on one question:
“Can I actually get this house?”
In today’s market, the question is increasingly:
“Is this the right house for the money?”
That distinction matters.
More available properties mean buyers can think beyond bedroom numbers and postcode. Running costs, EPC ratings, storage, broadband, outside space, parking, home-working potential and the condition of kitchens, bathrooms and heating systems can all influence decisions.
For sellers, understanding that mindset is useful. The properties most likely to stand out are not necessarily the cheapest. They are the ones where the buyer can clearly see what they are getting for their money.
What Could Happen Next?
August is rarely the best month for judging the direction of the property market because holidays naturally interrupt activity.
September is usually more revealing.
Families return from summer breaks, buyers restart searches they paused during August and sellers who want to move before Christmas begin to make decisions.
This year there is an interesting combination: a large amount of available property, more competitive seller pricing, a small recovery in mortgage approvals and early signs of improving buyer sentiment.
That could make the autumn market worth watching closely.
Final Thoughts
August 2026 may look quieter on the surface, but there are plenty of reasons for buyers, sellers, landlords and tenants to remain positive.
Buyers have exceptional choice. Sellers prepared to price realistically can stand out. Mortgage approvals have started to recover from May’s fall. Average UK house prices remain above their level of a year ago, and rental growth continues at a more manageable pace.
Perhaps most interestingly, Rightmove’s early “Burnham bounce” suggests confidence may already be beginning to improve ahead of autumn.
If you are considering buying, selling, letting or renting in Northumberland , you do not necessarily need to wait for the market to tell you when the perfect moment has arrived.
The better question is whether the current market creates the right opportunity for you.
Elizabeth Humphreys Homes is here to help you understand what is happening locally and what it could mean for your next move. Call 01665 661170 or email liz@eh-homes.co.uk to speak with our friendly team.
