The average asking price of a home newly listed for sale in Britain dropped by 2.0% this August, a fall of £7,360 to £364,999. That is the largest August decline recorded by property portal Rightmove since 2018, and it far exceeds the ten-year average for this time of year.
While some seasonal cooling is typical in the summer holiday month, the scale of this year’s decrease has caught the attention of market watchers. Rightmove’s latest index suggests that sellers are becoming more cautious as affordability pressures continue to weigh on buyer demand.
Sizing the market
| Town | County | Built-up area |
|---|---|---|
| Birmingham | West Midlands | 219.1 km² |
| Glasgow | Glasgow City | 138.1 km² |
| Leeds | West Yorkshire | 118.9 km² |
| Sheffield | South Yorkshire | 113.7 km² |
| Liverpool | Merseyside | 109.4 km² |
| Edinburgh | City of Edinburgh | 101.5 km² |
| Bromley | Greater London | 80.3 km² |
| Coventry | West Midlands | 77.7 km² |
| Hillingdon | Greater London | 76.4 km² |
| Manchester | Greater Manchester | 74.8 km² |
Why Birmingham’s footprint matters
Postcodes UK’s own analysis of built-up areas reveals that the largest single urban expanse in the country is Birmingham, covering 219.1 square kilometres in the West Midlands. The sheer sise of the city means that any shift in asking prices within its boundaries can have a pronounced effect on regional and even national averages.
A 2.0% drop in average asking prices across the country might mask sharper local variations. In a city as large as Birmingham, with its diverse housing stock ranging from inner-city terraces to suburban family homes, the impact of a cooling market can be felt unevenly. The Rightmove index does not break down data by built-up area, but the Postcodes UK database highlights the significance of Birmingham’s vast geography when interpreting headline figures.
August is traditionally a quieter month for the property market, with many buyers and sellers on holiday. The ten-year average August fall is less than 1%, so a 2.0% drop is unusual. When considering the national average, it is worth remembering that large urban areas like Birmingham, with their extensive housing stock, carry more weight in the calculation. Birmingham’s 219.1 square kilometres of built-up area is not just a geographical fact; it represents a deep pool of housing that can amplify or dampen national trends.
If sellers in Birmingham are reducing their asking prices more aggressively than the national average, the 2.0% figure could be heavily influenced by the city’s listings. Conversely, if the Birmingham market is holding up better, the national drop might be driven by other regions. Without granular postcode-level data, the headline figure only tells part of the story.
Postcodes UK maintains a detailed database that links built-up area boundaries to individual postcodes. This allows us to assess how many active listings fall within a given area. For Birmingham, the sheer number of postcodes within its 219.1 square kilometres means that any price movement here is likely to be a significant component of the West Midlands index, and by extension, the national figure. For more detailed postcode-level data across the West Midlands, visit our Birmingham area page.
The data behind this
The August house price movement is taken from the Rightmove House Price Index, which is based on asking prices of properties listed on its platform. Underlying sold price data is sourced from HM Land Registry. The built-up area measurement for Birmingham comes from the latest ONS census. Postcodes UK’s own database compiles and cross-references these public datasets to provide local insight.
In response to reporting by Property Industry Eye. Analysis and figures by Postcodes UK.