Britain's housing market saw its sharpest August drop in asking prices since 2018, with newly listed homes falling 2.0% in the four weeks to Aug. 8, according to Rightmove. Asking prices were also down 1.0% from a year earlier, a deeper annual decline than July's 0.4% drop and the biggest year-on-year fall since December 2023. Rightmove said seasonal summer weakness, the highest number of homes for sale in 12 years, and higher mortgage costs were weighing on the market, even as buyer demand rose 5% since July 20 but remained 10% below a year earlier. The property portal cut its market outlook from 2% price growth in 2026 to a range from flat to a 2% fall, citing geopolitical uncertainty, higher mortgage rates and October's budget.