Sussex Property Market News: July 2026
National asking prices and mortgage costs set the backdrop for every Sussex move, so here is where both stand at the end of July 2026. Two figures matter most this month: how far sellers have trimmed their asking prices, and what a fixed-rate mortgage now costs. Both point to a quieter, more price-sensitive market as Sussex buyers and sellers head into late summer.
Asking prices fall 1% in July as the summer market cools
Rightmove's latest house price index recorded a 1.0% fall in the average asking price of newly listed homes in July, a drop of £3,832 that took the typical figure to £372,359. That is a much steeper decline than the 0.2% July dip seen on average across the past decade. Rightmove put the softer mood down to the hot weather, the World Cup and the change of prime minister, with market activity running about 6% below the same period last year. For Sussex sellers, the read-across is straightforward: buyers are more price-sensitive than they were, and homes coming to market at ambitious prices are the ones most likely to sit.
Mortgage rates hold near mid-5% with the base rate at 3.75%
As of 24 July 2026, Uswitch put the average two-year fixed residential mortgage rate at 5.06% and the five-year fix at 5.14%, with the standard variable rate at 7.34%. The Bank of England base rate remains at 3.75%, and the next Monetary Policy Committee decision is due on 30 July 2026. For Sussex buyers weighing a move, borrowing costs at this level keep monthly payments high relative to the low-rate years, which is part of why asking prices are under pressure. Anyone coming off a cheaper fix should budget for a higher payment and check where rates sit again after the MPC meeting.