August saw a bigger than usual seasonal dip in asking prices. According to Rightmove, the average price of a newly listed home fell by 2% to £364,999, the largest August fall since 2018.
Prices are now 1% lower than this time last year, with the high number of properties available giving buyers plenty of choice. However, Rightmove also recorded a 5% increase in buyer demand from 20 July, suggesting activity could start to pick up as we move towards autumn.
The West Midlands is performing better than the national market.
Rightmove reports an average asking price of £298,049 across the West Midlands. Prices fell 0.8% during the month, but remain 0.7% higher than a year ago. Homes in the region are currently taking an average of 63 days to secure a buyer.
Here in Solihull, buyers are still active, but they have plenty of choice. This makes accurate pricing and strong marketing particularly important. Well-presented homes offering good value are in a much stronger position to attract serious buyers.
Nationally, the average time to secure a buyer is currently 63 days, compared with 62 days in June and 60 days in May.
The West Midlands is also averaging 63 days.
This doesn’t mean sellers should simply expect to wait two months. Properties that stand out on price, presentation and marketing can still secure buyers much sooner, while homes that enter the market too high can take considerably longer.
There are some encouraging signs as we approach autumn.
Rightmove has already recorded an increase in buyer demand following a quieter summer, and autumn traditionally brings more buyers back to the market.
Mortgage rates remain a consideration, with the average two-year fixed rate at 5.09% in August. Rightmove has also revised its 2026 national asking-price forecast to between 0% and a 2% fall, so we expect buyers to remain price conscious.
For sellers, getting the price right from the beginning and making your property stand out against the competition will remain key.
If you’re considering selling this autumn, now is a good time to start preparing.
If you’d like an honest opinion on your property’s current value and how we would position it in today’s Solihull market, get in touch with HS Homes for a no-obligation valuation.
0121 430 4448
enquiries@hshomes.uk
