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- Rightmove UK House Price Index declined 1.7% m/m
Rightmove UK House Price Index declined 1.7% m/m
Average asking price of property coming to market rises by relatively muted 1.0% (+£3,184) this month, the lowest monthly rate of increase at this time of year since 2010
Slowest sector is properties with two bedrooms or fewer with a 0.1% monthly price fall, a result of less active buy-to-let investor activity, giving first-time buyers an opportunity this autumn:
These properties see largest year-on-year increase in average number of days to sell, up from 55 days to 58 days
Mortgage approvals for new buy-to-let purchases down by 14% compared to a year ago and down by 53% compared to three years ago as more punitive tax regime has its desired effect
First-time buyers help to fill some of the gap left by lower buy-to-let activity with their year-on-year mortgage approvals up by 1%
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