UK house prices fall as number of homes for sale hits 11-year high

The average asking price of a newly listed home in the UK rose by 0.8% in April to £373,971, according to the latest data from Rightmove. However, the monthly rise masks the broader picture, as average asking prices are actually down by 0.9% compared to the same time last year. A monthly rise in asking prices is typical for the spring housing market and April's rise falls just short of the long-term April average of 1.2%. This relatively muted growth reflects a combination of elevated borrowing costs and a significant increase in the number of properties coming onto the market.

Despite the tough economic climate, the housing market has remained surprisingly resilient, with the number of sales agreed just 3% behind the same period last year. It suggests that many buyers and sellers are continuing with their moving plans despite ongoing economic and geopolitical uncertainties.

Latest Rightmove data

Below is a summary of the latest data from Rightmove (April 2026):

• Average asking price (monthly change) - The average price of a home coming to market rose by £2,929 (0.8%) in April to £373,971.
• Average asking price (yearly change) - The average price of a home coming to market fell by 0.9% in April (when compared to last April).
• Property supply - The number of homes for sale has reached an 11-year high, providing buyers with the most choice in over a decade.
• Sales agreed - The number of agreed sales is 3% lower than the same period last year.
• Mortgage rates - The average two-year fixed-rate mortgage has climbed to 5.42%, up from 4.25% earlier in the year.

Why is house price growth slowing?

The primary reasons behind the slower pace of house price growth are elevated mortgage rates and a significant increase in the number of homes coming onto the market. With the supply of available properties at its highest level for this time of year in over a decade, buyers now have far more choice.

Borrowing costs also remain higher than many people have been used to, largely influenced by the ongoing geopolitical tensions in the Middle East. As a result, some buyers are understandably taking a step back to reassess what they can comfortably afford. If you are interested in a broader look at market forecasts and how these factors might play out, you can read our regularly updated guide on 'What is going to happen to UK house prices?'.

Despite these financial pressures, certain areas of the market remain remarkably strong. Colleen Babcock, property expert at Rightmove, explains that it is "not a surprise that price growth is proving strongest in parts of the market less exposed to higher borrowing costs." She notes that Scotland, in particular, stands out as an example of resilience, with average prices rising by over 4%.

What does this mean for buyers?

If you are looking to buy a home, the surge in available properties is good news. With the highest level of stock in over a decade, you have more choice and less pressure to rush into a decision. Affordability has also received a slight boost from recent wage growth, which is currently outpacing house price inflation. Colleen Babcock, property expert at Rightmove, says that "While higher mortgage rates negatively affect affordability, many buyers are also benefiting from rising wages, lower house prices and more flexible borrowing criteria than in recent years, which all help affordability."

What does this mean for sellers?

For sellers, the current market presents a different challenge. Increased supply means you are facing stiffer competition from other properties in your area. To secure a sale, pricing your home accurately is essential. Buyers are less inclined to engage with overpriced properties, so setting an ambitious asking price could result in your home lingering on the market. Ensuring your home is well-presented and competitively priced will give you the best chance of attracting serious, pre-qualified buyers. For more tips on selling a property, check out our article '10 tips on how to showcase your property'.

How to source the best deal when buying a house

If you are concerned about affording a new home, you could speak with a mortgage broker - ideally one who has access to the whole mortgage market. A mortgage broker will take the time to understand your financial situation and find the best deal for your circumstances. Using a broker can be highly beneficial because they often have access to exclusive, 'intermediary-only' mortgages that you cannot apply for directly.

If you are looking for a mortgage broker, there are a few simple ways to find one:

• Find a local broker - You can search for a professional in your area using an online directory like Vouchedfor*. The site lets you read customer reviews and filter brokers by their areas of expertise.
• Use an online broker - If you prefer to arrange your mortgage digitally, you could consider an online service such as Habito*. Its independent advisers offer free guidance and can help you secure a mortgage without a face-to-face appointment.

 

If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Habito, Vouchedfor