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The average asking price of homes coming to the market this month is £337,371. This is down 0.3 percent or £1,076 compared with July, Rightmove said.
It marks the first monthly fall this year and is mainly due to cooling demand for larger homes with at least four bedrooms, the site said.
By contrast, activity remains strong in the “massmarket” sector for smaller properties, which have been less affected by the stamp duty holiday withdrawal. The average price is still 5.6 percent higher than a year ago.
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Tim Bannister, at Rightmove, said: “Average prices have only fallen in the upper-end sector, which is more affected by seasonal factors such as summer holidays and has also seen the greatest withdrawal of stamp duty incentives.”
Toby Phillips, a boss at Countrywide Estate Agents, predicted “an autumn bounce in prices if buyer demand continues as it is”.
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