The pace of UK property sales has slackened over the summer, with sales agreed in the four weeks to July 19 falling 9 per cent year‑on‑year, according to Zoopla. Its house‑price index for June showed price growth slowing to 1.3 per cent from 1.7 % a year earlier. Richard Donnell, executive director at Zoopla, said the slowdown is “sharper than usual,” driven by higher mortgage rates and political uncertainty.

Mortgage rates were stable last year between 4.1‑4.3 % for a five‑year fix at 75 % LTV, but the Iran conflict pushed them to around 5 per cent in April; they have since eased to about 4.75 % in July. Major lenders including HSBC, Barclays, Santander and Halifax (via brokers) raised fixed rates this week. Aaron Strutt, product director at Trinity Financial, noted rates have been rising “pretty much since the war in Iran started again.”

Regional data reveal a mixed picture: North‑east England saw a 4 % rise in sales agreed, while 76 % of smaller markets recorded fewer sales. Areas with gains included Warrington, Hull and Dundee, whereas Bath, Oxford and Harrow lagged. The rise in listings across most regions, combined with falling buyer inquiries (‑23 % YoY), signals a buyers’ market. Donnell warned sellers aiming for the traditional “September bounce” must price competitively now.