FTSE 100 Drops as Rightmove Reports Sharp Housing Price Fall

The FTSE 100 closed down 0.3% at 10,720.30 on Monday, August 17, 2026, while the FTSE 250 declined by 0.7%. Market sentiment was weighed down by a lack of new catalysts and rising oil prices, with Brent oil for October delivery reaching $89.07 per barrel due to uncertainty over US-Iran relations and the closure of the Strait of Hormuz.

In the property sector, Rightmove reported a 2.0% month-on-month drop in average asking prices for August. This represents the largest annual fall since December 2023. Despite the price decline, buyer demand increased by 5% following the appointment of the Prime Minister. Rightmove subsequently downgraded its house price growth forecasts for the 2026 fiscal year.

Other market activity included a 6.0% share price increase for Telecom Plus after the company reiterated its full-year guidance, alongside gains for gold-linked mining stocks. Investors are now looking toward upcoming UK jobs and inflation data, as well as US retail earnings from Walmart and Home Depot.