The latest Rightmove asking price market snapshot represents more good news for landlords relying on capital appreciation.

The average price of property coming to market sees a sixth consecutive record this month, rising by 0.4 per cent. 

Buyer demand continues to exceed historically normal levels and is now 26 per cent higher than at the same time in 2019, although down seven per cent on June last year. 

There are signs of the seriously depleted stock situation improving, with the number of sellers up by 13 per cent compared with this time last year, but the number of available homes for sale is still 40 per cent down on where it was in 2019. 

“In the current fast-changing economic climate, those looking to buy who find a suitable home they can afford, may choose to act now rather than wait. While more choice is welcome news, the number of homes available remains well below the more normal levels of 2019 and is unable to satisfy the continued high demand that we’re seeing” says Rightmove’s director of property science, Tim Bannister. 

“Though a softening in demand is moving the market from a boil to a simmer, it remains 26 per cent up on 2019. With such an imbalance remaining between supply and demand, prices look underpinned, and we would therefore only expect typical smaller seasonal month-on-month falls, rather than more significant price falls in the second half of the year.”