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New data from the company has revealed that every price band has seen a double-digit fall. But while activity has cooled across the board, demand for the average family home remains the market’s strongest anchor.
]Between 21 June and 21 July 2025, compared to 20 May and 20 June 2025, total property searches fell 17.89%, compared to a 4.35% drop during the same period in 2024. That’s the steepest monthly decline seen in recent years, with 273,296 fewer searches recorded.
The steepest falls were seen in the £250,000–£300,000 range, where searches dropped by 21.12%, and at the very top of the market, where searches for homes over £500,000 fell by 18.25%.
No price band was immune, with first-time buyer territory (under £150,000) down 17.37%.
Nathan Reilly, commercial director at Twenty7tec, said: “Several factors could be contributing to the downturn in searches.
“We saw the rush that the stamp duty changes brought in, with almost 160,000 fewer first time buyer searches in the three months post change to before. This can include continued uncertainty around interest rates, high living costs, and buyers adopting a ‘wait and see’ approach.
“For some, holidays may have simply taken priority over house hunting. But for others, affordability challenges are likely forcing a pause in activity while they reassess their budgets.”
Despite the month-on-month slowdown, year-on-year figures tell a more nuanced story.
Searches for homes priced between £250,000 and £300,000 are up 31.6% compared to July 2024, making it the only band to see significant annual growth. All bands below that threshold recorded year-on-year declines, including a 22.85% drop for homes under £150,000.
“This tells us where the market energy is right now,” explains Reilly. “People are still looking, but they’re increasingly focused on that middle segment. First-time buyers are under pressure from affordability constraints, while the top end of the market is more hesitant. It’s the typical family home that’s holding everything together.”
The findings land as Rightmove reports the steepest monthly fall in average asking prices since its records began in 2002.
July’s average asking price dropped by 1.2% (£4,531) to £373,739, with the sharpest regional decline seen in London, and the biggest drops in top-of-the-ladder homes. Despite this, buyer demand is holding steady, with Rightmove noting a 6% increase in buyer enquiries and sales agreed up 5% year-on-year.
The full picture suggests a market under pressure, but not without resilience. Year-on-year search volumes across all price bands are down only 1%, with over 1.5 million searches in the last 30 days.
“The volume of activity in the £250k–£300k range tells us this isn’t a market that’s flatlining,” added Nathan. “Instead, we’re seeing a refocus of demand – one shaped by changing affordability, mortgage rates, and life stage needs.
“If that momentum continues, it could provide some much-needed stability through the second half of the year.”
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