The summer holidays may be in full swing, but activity in the UK property market hasn’t slowed. Movement continues across buying and selling, and there’s big news brewing on potential stamp duty reform.
House price growth remains firm. The Office for National Statistics reports that average UK house prices rose by 3.7% year-on-year, reaching around £269,000 in June - a clear step up from May’s 2.7% rise.
Prices also gained 1.4% month-on-month, showing ongoing buyer confidence.
What’s behind the momentum? Mortgage rule changes are helping. According to Zoopla,updated affordability tests have increased borrowing power by up to 20%, triggering an 11% rise in demand and an 8% increase in sales compared to last year.
For buyers in Purley, Croydon & Greater London this translates to more choice and stronger negotiating power - especially if your finances are in good shape. Have your mortgage agreement in principle sorted and be ready to act when the right property appears.
It’s a more promising market for sellers, but price sensitivity still plays a big role. RICS data from June shows buyer demand has turned positive for the first time since December 2024, with a net balance of +3%. However, price expectations remain cautious at –7%.
Seasonal patterns are also at play - prices are a little softer, but transaction levels remain stable. Rightmove’s latest trends suggest that realistically priced homes are still attracting buyers.
If you’re thinking of selling in Purley, Croydon & Greater London, pricing correctly is crucial. Today’s buyers are motivated but value-focused. Pre-viewing valuations and having legal paperwork ready can give your listing the edge.
One of the biggest talking points this month is the future of Stamp Duty. Chancellor Rachel Reeves is reportedly considering replacing it with a new property tax, potentially applied to the sale of homes over £500,000. The idea is gaining traction among those who believe SDLT slows down the market and holds back first-time buyers. Removing it could help free up transactions and encourage movement across the chain. But there are concerns too. Critics argue it could penalise downsizers and those dealing with inherited property - and may not reduce overall costs in the long run.
Forecasts for the remainder of 2025 remain cautious but steady. Rightmove anticipates modest house price growth of around 2%, supported by stable interest rates and renewed buyer activity. The Bank of England recently reduced the base rate to 4%, marking the first cut since May.
For buyers in Purley, Croydon & Greater London, this market is a window of opportunity - just be organised and ready to move quickly.
Sellers, stay realistic. Buyers are active, but they know their budgets.
And keep an eye on potential Stamp Duty changes - if they come in, they could reshape the way deals are structured.
Shinerocks is here to help, whether you're buying or selling in Purley, Croydon & Greater London. Call 020 8660 2010 or email enquiries@shinerocks.co.uk to speak with a member of our friendly and experienced team.
Note: The information in this article is based on data as of July/JAugust 2025 and may change. Always seek professional advice for specific circumstances.
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