UK Housing Market Shows Resilience Despite Summer Slowdown

What does the current housing market mean for buyers and sellers in Devon?

The summer property market has certainly been quieter on viewings than many would have hoped, but that does not mean the housing market has stopped moving as buyers are still offering on property.

At Diamond Estate Agents, we are seeing a market where buyers remain active, but they are becoming increasingly selective. Price, presentation and value for money are all playing a much greater role in deciding which properties attract interest.

The message for homeowners considering a move is relatively simple: there are still buyers out there, but they need to be given a reason to choose your property.

A quieter summer, but buyers are still moving

The traditional summer slowdown for viewings has been more noticeable this year, with holidays, unusually warm weather and wider economic uncertainty all contributing to a more cautious market.

Rightmove reported that average asking prices fell by 1% in July to £372,359. That is considerably greater than the typical 0.2% fall seen during July over the previous ten years. At the same time, the number of homes available for sale remains close to a 12-year high.

For sellers, this means there is more competition.

For buyers, it means more choice.

And that makes accurate pricing more important than ever.

At Diamond Estate Agents, we believe this is particularly important in the Devon market, where national statistics do not always tell the full story. Tiverton, Cullompton, Uffculme, Bampton, Crediton and the surrounding villages can all behave very differently depending on property type, location and price bracket.

Mortgage rates and the wider economy

The wider economic picture continues to influence the property market.

Mortgage affordability remains one of the biggest considerations for buyers, while geopolitical uncertainty has also contributed to renewed pressure on borrowing costs.

For many homeowners, the monthly mortgage payment remains just as important as the headline interest rate. Buyers are therefore taking longer to consider their options and are increasingly looking closely at whether a property represents genuine value.

There is some positive news, however.

Household earnings remain relatively resilient and mortgage availability has improved, giving buyers more options than they had previously.

This creates an interesting market. Demand is still there, but buyers are less likely to compromise on price.

Could we see an autumn bounce?

Historically, September can bring renewed activity to the property market.

As holidays come to an end, children return to school and people get back into their normal routines, attention often turns once again towards moving home.

There is also the potential for greater clarity around Government policy following the Autumn Budget.

The combination of improving mortgage availability, more predictable economic conditions and buyers returning to the market could provide a welcome boost to activity.

Rightmove has described the current market as one where sellers are having to work harder to attract buyers, while also highlighting that the number of sales agreed during the first half of 2026 was broadly in line with 2024.

That is an important distinction.

The market isn't broken. It is simply more competitive.

House prices continue to show resilience

Despite the challenges facing the market, house prices have not collapsed.

The latest figures show that average UK house prices reached £271,295 in May, representing annual growth of 2.7%.

However, expectations for the remainder of 2026 are more subdued, with greater stock levels and economic uncertainty likely to restrict significant price growth.

For homeowners, this reinforces the importance of focusing on the local market rather than national headlines.

A national average cannot tell you what your three-bedroom house in Tiverton, your cottage near Bampton or your family home in Uffculme is actually worth.

That is where local knowledge matters.

More properties for sale means greater competition

One of the biggest features of the current market is the amount of choice available to buyers.

When buyers have several similar properties to choose from, they can afford to be selective.

This means a property that is overpriced can quickly become overlooked, while a correctly priced and well-presented home can stand out from the competition.

Rightmove's July figures show that available stock remains very close to a 12-year high for this time of year.

For sellers, this makes the first few weeks on the market particularly important.

Your asking price, photography, floorplan, description, online presentation and marketing strategy all need to work together.

Pricing your property correctly is more important than ever

One of the biggest mistakes sellers can make in a competitive market is starting too high simply to "test the market".

Today's buyers are well informed. They can compare properties instantly, look at previous sales and see how long properties have been available.

If a property is priced above its realistic market value, it can quickly lose momentum.

Once a property has been sitting on Rightmove for several weeks without serious interest, buyers may begin to wonder why.

Our approach at Diamond Estate Agents is to look beyond the headline figures and consider what is actually happening in the local market.

We look at comparable properties, recent sales, current competition, buyer demand and the individual characteristics of the property before recommending a marketing price.

Housing remains high on the Government's agenda

Housing is also likely to remain an important political issue as the new Government sets out its plans.

Prime Minister Andy Burnham has already made increasing council housebuilding a key part of his agenda, with the Government expected to set out further policies around housing and the wider economy.

The Autumn Budget could therefore provide further clues about the direction of the housing market, particularly around taxation, home ownership, landlords and housebuilding.

Until those policies are confirmed, however, buyers and sellers should be careful about making decisions based purely on speculation.

What does this mean if you are thinking of moving?

For buyers, the current market could present opportunities.

There is more choice, sellers are having to compete harder and those who are in a strong financial position may be able to negotiate when they find the right property.

For sellers, the market requires a little more thought.

The days when almost any property could be placed on the market at an ambitious price and still generate multiple offers are not necessarily representative of today's conditions.

Presentation matters. Pricing matters. Marketing matters. And local knowledge matters.

Our view at Diamond Estate Agents

We remain positive about the underlying strength of the property market across Devon.

Yes, the summer has been quieter on viewings.

Yes, buyers are more cautious.

And yes, sellers need to be realistic about pricing.

But people are still moving.

People are changing jobs, upsizing, downsizing, relocating, buying their first home and moving closer to family.

Those reasons for moving do not disappear simply because the market becomes more challenging.

As we move towards autumn, we expect activity to improve as buyers return from their summer breaks and focus turns back towards moving home.

For anyone considering selling this autumn, now is a good time to understand what your property could realistically achieve and how it would compete against the other homes currently available.

If you're thinking about moving, talk to Diamond Estate Agents. We can give you an honest, local assessment of your property's current market position and help you understand what buyers are looking for.