In Wales average asking prices dropped by -2.8%, the UK’s biggest regional fall. The drop in asking prices could improve affordability for Welsh home-movers looking to move during the autumn property market.
New sellers have raised their asking prices by an average of 7.2% over the past year, a clear sign of the strength of the market in the capital.
September's House Price Index found that this month’s new sellers made up some of the holiday quarter’s lost ground by upping their average asking price by 0.7% (£1,596).
New London sellers coming to market in August reduced their asking prices by an average of 3.4%. This leaves prices over £20,000 (4.7%) down from the record high that was seen as recently as two months ago.
New sellers’ asking prices in August dropped by 2.1% over the past month, a year-on-year fall of 0.3%, to leave the average asking price for a property in the UK at £231,543.
Rightmove’s House Price Index for July found that the average asking price for a property in Wales increased by 0.9% over the past month, bucking the national trend as overall UK prices saw their first fall in 2011.
New London sellers coming to market in July set their asking prices on average 1.4% lower than those in June.
Rightmove’s House Price Index for July found that the average asking price for a property in the UK dropped by 1.6% over the past month, the first fall in 2011.