Asking prices of newly listed housing have fallen 0.6% in just four weeks says Rightmove.

It says this is the biggest June price fall since 2012 just before the London Olympics.

June typically sees modest price increases, with a 0.1% average over the past decade.

There’s a clear north-south divide with the portal reporting this morning: “Prices have fallen across all southern England regions and Wales, while the more affordable northern areas such as the North East and Scotland are holding up better compared to this time last year.”

Making the situation worse is the glut in supply. The number of homes for sale remains at historically high levels for this time of year, driving price falls as sellers compete for attention.

But while the number of listings remains higher than in recent years, up 6% on 2024  and 12% on 2023, demand is weak and down 10% in May 2026 compared to a year earlier.

And there are external factors too.

Rightmove says: “May’s unusual heatwave kick-started summer earlier than usual this year, while the World Cup may prove to be a distraction for home-movers. Meanwhile, ongoing economic challenges and global uncertainty remain.”