As we move into the height of summer, the York property market—like much of the UK—is adjusting to changing buyer behaviour, competitive pricing strategies, and evolving mortgage rates. This July, the average asking price of property coming to the market across the country has dipped by 1.2%, down £4,531 to £373,709. For sellers in York, this is a timely reminder that smart, realistic pricing is more important than ever in attracting the right buyers.
A Market Led by Sensible Pricing
The property market is still adjusting to increased supply. The number of available homes remains at a decade-high level, giving buyers more choice and encouraging sellers to set prices competitively to stand out. London has seen the sharpest regional drops, with Inner London prices falling by 2.1%, but York’s market is also feeling the small ripple effects.
In our city, average time on the market has crept up. Homes in York are now taking an average of 71 days to find a buyer—16 days longer than at this time last year. This highlights how vital it is for sellers to price their homes right from day one. Overpricing can lead to stagnation, missed interest, and eventual price reductions that cost more time and money.
The positive news? When homes are priced correctly, they’re selling. The number of agreed sales is up 5% year-on-year, suggesting that well-positioned properties are finding motivated buyers more readily than last summer. Likewise, the number of potential buyers contacting estate agents has risen by 6%, showing that demand is still strong, especially when affordability improves.
Affordability is Strengthening
One of the most encouraging shifts this summer is in buyer affordability. Average new seller asking prices are now just 0.1% higher than a year ago—virtually flat—and that’s in contrast with rising average wages and falling mortgage costs.
According to Rightmove’s latest mortgage tracker, the average two-year fixed mortgage rate is now 4.53%, down from 5.34% a year ago. That’s a monthly saving of nearly £150 on a typical new mortgage. This is welcome news for buyers, especially first-time buyers or those upsizing, as lower monthly repayments can make a real difference in purchasing decisions.
Markets are currently forecasting two further Bank of England base rate cuts by the end of the year. If those cuts come through as expected, we could see mortgage rates ease further, giving buyers more confidence and potentially stimulating more movement in the autumn.
Looking Ahead to 2025
While the current environment is encouraging for buyers, sellers need to remain pragmatic. Rightmove has just adjusted its 2025 house price forecast, reducing expected annual growth from +4% to +2%. This revision reflects ongoing competitive conditions and the higher number of listings which, although good for choice, will limit rapid price growth.
Despite this, transaction volumes are expected to hold steady, with a forecast of 1.15 million property sales across the UK this year. That suggests a healthy underlying appetite for moving, particularly in regions like York where lifestyle, schools, transport, and historic charm all continue to make the city an attractive destination for buyers.
Advice for York Sellers
If you're thinking of selling in York, now is the time to be strategic. With buyer demand on the rise and affordability improving, your property could stand out—provided it's priced in line with current market expectations. At Indigo Greens, we’re advising clients to adopt a data-led approach, looking closely at local sales trends and comparable properties to ensure the price is right from the outset.
We’re also seeing that homes that are well presented and marketed professionally are still generating strong interest, even if they take a little longer to secure the right buyer. That means quality photography, detailed floor plans, and clear, compelling descriptions are more important than ever.
Final Thoughts
In summary, the York housing market remains active and full of opportunity—but this is a market that rewards realism. With more homes available, buyers have options, so accurate pricing, professional presentation, and informed guidance from your estate agent are crucial.
At Indigo Greens, we’re here to help you navigate every step of the journey, whether you're selling your first home or making your next move across the city. If you’re considering a sale or simply want a no-obligation chat about your property's value in today’s market, we’d love to hear from you.
Written by Emma
Source Rightmove House Price Index July 2025
