Data from mortgage tech provider Twenty7tec has found a ‘dramatic summer slowdown’ for property searches between June and July, but searches for homes priced between £250,000 and £300,000 are bucking the trend.
Between 21 June and 21 July 2025 total property searches fell 17.89% compared to 20 May and 20 June 2025. In the same period in 2024, there was just a 4.35% drop – leading to the steepest monthly decline ‘in recent years’, Twenty7tec said.
The steepest falls were seen in the £250,000–£300,000 range, where searches dropped by 21.12%, and homes over £500,000, which fell by 18.25%. Searches for homes under under £150,000, typically favoured by first-time buyers, were down 17.37%.
Nathan Reilly, commercial director at Twenty7tec, said several factors contributed to the downturn. He explained:
“We saw the rush that the stamp duty changes brought in, with almost 160,000 fewer first time buyer searches in the three months post change to before. This can include continued uncertainty around interest rates, high living costs, and buyers adopting a ‘wait and see’ approach.
“For some, holidays may have simply taken priority over house hunting. But for others, affordability challenges are likely forcing a pause in activity while they reassess their budgets.”
However, despite the overall reduction in searches, the year-on-year figures illustrate buyer preferencers.
Searches for homes priced between £250,000 and £300,000 are up 31.6% compared to July 2024, making it the only band to see significant annual growth. All bands below that threshold recorded year-on-year declines, including a 22.85% drop for homes under £150,000.
‘This tells us where the market energy is right now’, said Reilly.
“People are still looking, but they’re increasingly focused on that middle segment. First-time buyers are under pressure from affordability constraints, while the top end of the market is more hesitant. It’s the typical family home that’s holding everything together.”
Referring to recent figures from Rightmove, which recorded a steep monthly fall in average asking prices, Reilly added:
“The volume of activity in the £250k–£300k range tells us this isn’t a market that’s flatlining. Instead, we’re seeing a refocus of demand – one shaped by changing affordability, mortgage rates, and life stage needs. If that momentum continues, it could provide some much-needed stability through the second half of the year.”
Although Twenty7tec has recorded a reduction in searches, the latest House Price Index from Zoopla showed a healthy increase in demand, which executive director Richard Donnell said is supporting sales despite increased uncertainty.
