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- The price of property coming to the UK market falls by 1.7% (-£5,222) this month
The price of property coming to the UK market falls by 1.7% (-£5,222) this month
The price of property coming to market falls by 1.7% (-£5,222) this month, and whilst it is the norm for new seller asking prices to fall at this time of year, this is the largest November drop since 2012
New sellers pricing more realistically in effort to minimise pre-Christmas ‘buyer humbug’ syndrome fuelled by stretched affordability and Brexit uncertainty
All regions see a monthly price fall, with largest falls in the south and the upper price sector:
Higher end London commuter towns – where prices have risen by over 40% since 2011 – unsurprisingly have significant price falls
Annual national rate is marginally negative (-0.2%, -£607) for the first time in seven years
Price slowdown seen as an early Christmas present for some buyers with numbers of sales agreed up nationally by 1% compared to same period a year ago, indicating some sound underlying fundamentals
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