Midlands Property Market Update – June 2026
More Choice, More Competition, More Selective Buyers. If you only read the headlines this month, you might think the property market has suddenly taken a turn for the worse. After all, the latest figures show that asking prices have fallen by 0.6% nationally during June, marking the largest June price reduction seen for fourteen years. However...
More Choice, More Competition, More Selective Buyers
If you only read the headlines this month, you might think the property market has suddenly taken a turn for the worse.
After all, the latest figures show that asking prices have fallen by 0.6% nationally during June, marking the largest June price reduction seen for fourteen years.
However, as is often the case with property statistics, the headline doesn’t tell the full story.
When we dig a little deeper into the data, what we’re actually seeing across Northamptonshire, Warwickshire and the wider Midlands is not a collapsing market, but a market that has become increasingly competitive.
Buyers still want to move.
Homes are still selling.
Mortgage rates have improved slightly.
But buyers have more choice than they have had for several years, and that is changing how they behave.
The Headline Numbers
According to the latest Rightmove House Price Index:
🏡 Average UK asking price: £376,191
📉 Monthly change: -0.6%
📉 Annual change: -0.5%
📉 Biggest June asking price fall since 2012
📊 Buyer demand down 10% compared to this time last year
📊 New listings down 5% year-on-year
📊 Sales agreed down 6% year-on-year
💷 Average two-year fixed mortgage rate now 5.07%, down from 5.18% last month
📉 Average mortgage payments reduced by approximately £30 per month as a result.
At first glance those numbers might look concerning.
But context matters.
Sales agreed remain broadly in line with 2024 levels and are still around 5% higher than 2023. In other words, people are still moving house.
What Are We Seeing Across The Midlands?
The regional data paints a more balanced picture.
East Midlands
Average asking price:
🏡 £294,710
📈 Annual growth: +0.9%
📈 Monthly growth: +0.1%
⏳ Average time to find a buyer: 65 days
West Midlands
Average asking price:
🏡 £303,805
📈 Annual growth: +1.3%
📉 Monthly change: -0.1%
⏳ Average time to find a buyer: 59 days
This is particularly relevant to the areas we cover, from Rugby and Warwickshire through Daventry, Northampton and the surrounding villages.
While some southern regions continue to see annual price reductions, both Midlands regions remain in positive annual growth territory.
That suggests our local market continues to show resilience despite ongoing affordability pressures.
Buyers Have More Choice Than They’ve Had For Years
This is probably the most important message in this month’s report.
The average estate agent is now carrying around:
🏠 63 properties
This is one of the highest levels of available stock we’ve seen in recent years.
For buyers, that’s great news.
For sellers, it means more competition.
Rather than rushing to view the first suitable property they find, buyers can afford to take their time.
They’re comparing more homes.
They’re viewing more properties.
They’re scrutinising value much more carefully.
In simple terms, buyers have become choosier.
What This Means For Sellers
The market is still working.
The challenge is that buyers have become far less forgiving.
The report repeatedly highlights the importance of pricing correctly from the start. Sellers who launch too high often find themselves reducing later, which can make it harder to regain momentum.
The properties attracting the strongest interest today are generally the ones that offer one or more of the following:
✔️ Competitive pricing
✔️ Excellent presentation
✔️ Strong photography and marketing
✔️ Features that stand out from competing homes
The days of simply launching high and waiting for buyers to catch up appear to be becoming less effective.
What This Means For Buyers
For buyers, there is actually some encouraging news.
There is more choice available than we’ve seen for quite some time.
Mortgage rates have edged down again.
Properties are taking longer to secure buyers than they were a few years ago, giving purchasers more opportunity to compare options carefully.
That doesn’t mean buyers can expect huge discounts.
The best homes are still attracting strong interest.
However, it does mean buyers are operating in a market where they have more negotiating power than they have enjoyed for several years.
The Market Is Becoming More Selective
One of the most interesting comments within this month’s report came from Midlands estate agents who described the market as increasingly selective.
Well-presented, sensibly priced freehold homes continue to attract strong demand.
Meanwhile, properties that are overpriced, poorly presented, or burdened with issues that concern buyers are taking much longer to secure interest.
That reflects exactly what we are seeing locally.
The market has not stopped.
It has simply become more discerning.
Our View
If we had to summarise the current Midlands market in one sentence, it would be this:
There are still plenty of buyers, but they have far more choice than they did a year ago.
For sellers, success is increasingly about strategy rather than simply waiting for the market to do the work.
For buyers, opportunities remain available, particularly with mortgage rates easing slightly and stock levels remaining high.
As always, every village, town and property type behaves slightly differently, which is why national headlines rarely tell the full story.
If you’re considering moving in Northamptonshire, Warwickshire, Rugby, Daventry, Northampton or the surrounding villages, we’d be happy to explain what these figures mean for your specific property and local market.
After all, understanding the market is one thing.
Understanding your market is what really matters.