New seller asking prices hit usual summer slowdown this month resulting in virtual price standstill (-0.1% or -£248)

Number of properties coming to market jumps up by 8.6% compared to same month last year, but no corresponding increase in buyer numbers to soak up new seller influx (sales agreed holding steady at -0.2% compared to the same month a year ago)

Stock for sale per agent highest since September 2015, meaning sellers in areas of over-supply need to compete harder on price, presentation and promotion of their property to attract buyers

The proportion of sellers already on the market that are reducing their asking prices is the highest at this time of year since 2011, indicating initial over-optimism on price