Total searches fell by 17.89%, more than four times the 4.35% drop recorded during the same period in 2024. This equates to 273,296 fewer searches.

Every property price band experienced a double-digit decline in activity. The £250,000–£300,000 range saw the steepest fall at 21.12%, followed by a drop of 18.25% in the £500,000+ bracket. Searches for properties under £150,000, typically associated with first-time buyers, were down 17.37%.

However, the year-on-year picture shows some resilience. Searches in the £250,000–£300,000 range are up 31.6% compared to July 2024—making it the only band with significant annual growth. In contrast, all bands below that threshold saw year-on-year declines, with a 22.85% drop in searches for homes under £150,000.

Twenty7Tec commercial director Nathan Reilly cites factors such as ongoing interest rate uncertainty, high living costs, and seasonal priorities like summer holidays as contributing to the slowdown.

“Affordability challenges are likely forcing a pause in activity while buyers reassess their budgets,” says Reilly.

“First-time buyers are under pressure, and the top end of the market is cautious. It’s the middle segment holding firm.”

The slowdown comes alongside new data from Rightmove, which reported a 1.2% (£4,531) fall in average asking prices in July—the steepest monthly drop since 2002. London saw the sharpest regional decline, particularly in higher-end properties.

Nonetheless, buyer demand is holding steady, with Rightmove noting a 6% increase in buyer enquiries and sales agreed up 5% year-on-year. Twenty7tec’s data shows overall search volumes down just 1% year-on-year, with more than 1.5 million searches conducted over the past month.

“The activity we’re seeing in the £250k–£300k range suggests the market isn’t flatlining,” says Reilly.

“It’s adjusting to affordability constraints, with demand shifting rather than disappearing.”