Chris Storey, Chief Commercial Officer, Atom bank

20 August 2025

Chris Storey, Chief Commercial Officer, Atom bank

“House prices are continuing to bounce back from the temporary lull that followed the end of the stamp duty holiday, though the rate of growth is far more modest than at the start of the year.

“The most recent data from Rightmove shows that asking prices have dropped of late, with the number of properties for sale jumping by 10% on the same period of last year. This competition is pushing sellers to be realistic with their pricing, opening the door for a deal to be done. It’s translating into higher activity levels, with the number of agreed sales up by 8% compared with this time last year, while lower mortgage rates are playing their part too. Moneyfacts analysis shows that average two-year fixed rates have dropped to below the average rates available on five-year terms, for the first time since September 2022, suggesting we are finally putting the effects of the notorious mini-Budget behind us. The combination of wider property choice and lower mortgage rates will help make some buyers make the jump onto or up the housing ladder.

“However, a cohort of would-be buyers are being left behind. Analysis of historic first-time buyer data by the BSA suggested that since 2006 around 2.2 million first-time buyers have failed to purchase their first home. These buyers are being handicapped by too few options for small deposits, overly prescriptive lending limits and a blinkered approach to historic credit issues. As an industry we need to not just focus on house price fluctuations, but on fairness too.”