House Price Index

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December sellers drop asking prices 3%

  % Change in month% Change Past YearAve house price
Dec HPI-3.0%%0.4%£222,410
Nov HPI-3.2%1.3%£229,379

Key points

  • December sellers cut asking prices by 3% (£6,969) - falls now recorded in 5 of the last 6 months
  • Rightmove forecasts that in 2011 sellers will continue to drop their asking prices with the national average falling by up to 5%, with north/south extremes
  • Upsides of pent-up demand and fewer marketed properties more than off-set by downside risks of unemployment, increased forced sales, base rate rise and the ongoing mortgage famine
  • 2011 a good year for: Landlords, job secure equity blessed trader uppers and deposit-rich. 2011 a bad year for: Forced sellers, deposit and equity poor, tenants and first-time buyers
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