oadby-mortgages

New seller asking prices dip in competitive market: Rightmove

Tue, 16 Sep 2025 11:56:24 GMT

New seller asking prices dip in competitive market: Rightmove

The average price of property coming to the market for sale has risen by 0.4% (+£1,517) this month to £370,257. This is according to the latest Rightmove House Price Index.

Despite this month’s increase in prices, the first since May, the average asking price for a home in the UK is now 0.1% (-£502) lower than a year ago.

This first annual price drop since January 2024 is the culmination of several months of competitive pricing by new sellers over the summer.

Average new seller asking prices are now 0.1% below this time last year following several months of muted price growth

The dip in annual prices is driven by London and the south, as the region underperforms the rest of the UK.

Competitive pricing is markedly more pronounced in the south. The number of homes for sale in the area is up 9% on 2024, compared with 2% across the UK, and it takes an average of five days longer to secure a buyer.

However, the number of sales being agreed is 4% ahead of this time last year. In the south of England, it is still up by 3% year-on-year, while it’s up by 5% across the rest of the UK.

Rightmove’s data indicates no immediate reaction from movers to property tax rumours. However, nervousness around what might be revealed in the Autumn Budget risk slowing the parts of the market that are already underperforming.

Commenting on the latest figures Rightmove property expert Colleen Babcock said: “We’d expect to see a slight uptick in new seller asking prices in September, with the traditional back to school season boosting activity heading into autumn.”

She added “It’s the sensible and attractive seller pricing we’ve been reporting which has been helping to drive more sales activity compared to last year. Static house prices, rising wages, and lower mortgage rates all assist buyer affordability, which has led to an increase in the number of sales agreed compared to a year ago.”

MT Finance director Tomer Aboody commented: “The affordability matrix still shows that first-time buyers are struggling to get on the ladder, with the average property price still higher than the average couple’s 4.5 times income multiple. Surely this has to change so that first-time buyers can afford to purchase their first home?”

He insisted that stamp duty reform was urgently needed to allow more homes to come to the market, so that downsizers were encouraged to sell and enable families to buy. This would also free up more affordable flats and smaller houses for first-time buyers.

He added: “The property cycle is a huge focal point of the economy in the UK, and any government discouraging this, or not actively trying to bolster this, will see the economy falter.”

FTB’s favouring semi-detached homes and long-term deals: Barclays

Tue, 16 Sep 2025 11:54:37 GMT

FTB’s favouring semi-detached homes and long-term deals: Barclays

Semi-detached properties rose in popularity in August, accounting for 33.5% of first-time buyer purchases, up 1.7% year-on-year.

Meanwhile flats declined in popularity by 2.7 %, accounting for a fifth (19.6%) of first-time buyer homes. This is according to recent research from Barclays.

When it comes to keeping a check on costs, buyers are opting for higher-duration mortgages to reduce monthly payments.

Barclays data shows an increase in popularity of 30-plus year mortgage terms. Among first-time buyers, these account for 41.3% of purchases, as they are typically younger and so have longer to pay back a mortgage.

When asked about their preferences, nearly four in 10 (37%) mortgage holders prefer 30-40-year terms more than shorter durations because they should mean lower monthly repayments.

Meanwhile, the survey indicated that confidence in the housing market recovered slightly to 29% in August, following July’s six-month low of 26%.

Barclays all of market data reveals that three-bedroom homes are the most popular choice for properties, making up 46% of total purchases in August.

Millennial homeowners, age 28 to 43, are the most likely age-group to prioritise extra space – over a fifth (22%) say they bought a property with more bedrooms than they currently need, to avoid upsizing later. This compares to just 13% across all ages.

Encouragingly, a fifth (22%) of renters believe homeownership is achievable within five years, up from 16% last month and the highest level since February.

However, amidst reports of record high house prices, nearly half (47%) cite this as a major barrier to ownership, up from 38% in July.

Commenting on the latest research Barclays head of mortgages savings and insurance Jatin Patel said: “Our data shows that first-time buyers are not considering property merely to get a ‘foot on the ladder’ but for the long term. Whether it’s to create space for a growing family, or to invest for the future, it’s encouraging to see young people feel slightly more confident in taking this significant step.”

He added: “It’s clear that buyers are still cost-conscious as 30+ year mortgage terms become more popular – this option helps consumers reduce their payments by stretching their borrowing over a longer period of time.”

The Longer Financial Impact of Illness

Tue, 16 Sep 2025 11:52:18 GMT

The Longer Financial Impact of Illness

The start of the new year signals many different things – fresh resolutions, detoxing from rich food and alcohol, the start of the spring school term. It also brings a wave of coughs, colds, flu, and in the last few years, Covid. This year seems especially bad, with the head of the Royal College of Emergency Medicine describing the pressure on hospitals as “unacceptably awful”.

Fortunately, most people will recover from their illness in just a few days without the need to visit hospital, but long-term illnesses and injuries are much more common than many people think. In our recent survey with 2,000 UK adults, we found more than a quarter (27%) have taken a month or more off work sometime during their career. Of these people, the average time they had been away from work was four and a half months, more than a third of a year.

This is a significant amount of time and is likely to impact income. Only around half of employers offer full pay for those who are on long term sick leave. About a quarter of employees must rely on Statutory Sick Pay (SSP), which currently stands at £116.75 a week is available for 28 weeks[1]. The rest will receive Occupational Sick Pay, which is set at the discretion of the employer, which will be higher than SSP but lower than full salary.

For those who are self-employed, there is no safety net. No work means no pay. As of October 2024, there were almost 4.4 million self-employed workers in the UK and this figure is growing year on year[2]. Even just a month off work can leave people struggling financially, let alone four or more.

Up to a third of UK adults have either no savings or less than £1,000 in a savings account. Two thirds of people believe they wouldn’t be able to last three months without an income without borrowing money[3]. A prolonged period of sick leave will not only affect these people financially in the short-term as they try to find money for day-to-day bills, but the knock-on effects can also last for years.

SSP is the largest employment issue that people come to the Citizen’s Advice bureau for help with. Nearly 50 people a day contacted them about it in 2023/24, looking for advice how to manage financial and where to turn to for support to maintain the basics of daily life[4]. These inquiries are likely to be the tip of the iceberg, with many more people trying to cope on a reduced income.

Falling into debt doesn’t just affect people financially. It can affect them mentally, physically and emotionally. A study from the Royal College of Psychiatrists found that half of all adults with a debt problem also live with mental health issues[5].

Being in debt is associated with shame and guilt and is one of the main reasons people don’t ask for help at the first sign of a problem. Too often this approach leads to the debt spiraling out of control and becoming a real crisis that takes much longer to recover from. It can damage their credit rating, which can seriously limit their future financial options.

Income protection has the power to help people not just during a moment of crisis but also to shield them from the long-term impact of debt, which can be so harmful to their health and their happiness. Covering the essentials really can change lives.