House asking prices fell in November

By the Press Association

The Press Assocation

The Press Association is a news wire with a large reporting team. We use it for additional stories on mainstream issues. Views represented do not necessarily reflect those of MoneySavingExpert.com.


19 November 2012

House sellers dropped their asking prices by 2.6% this month, property website Rightmove says today.

A buoyant London property market helped cushion the blow in what is traditionally a quiet time of year for buying activity, with falls of 3.2% and 3.1% recorded in November over the previous two years.

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Asking prices fell on a month-on-month basis across all regions in England and Wales, except London where prices rose 1.2%.

Despite the monthly fall, the average property asking price across England and Wales is 2% higher year-on-year at £236,761 – the largest annual rise since 2007.

Even with the London boost stripped out, asking prices still rose 0.2% year-on-year, according to Rightmove.

The November fall comes after an autumn rebound in October, when asking prices rose 3.5% month-on-month following a weak summer due to distractions such as the Olympics.

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