London pauses for breath as average asking prices fall from peak
New London sellers coming to market in July set their asking prices on average 1.4% lower than those in June.
House Price Index
Average asking prices drop for the first time in 2011
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.
Average asking prices in Wales drop by 1% in June
New sellers in Wales dropped their asking prices by an average of -1% in June to leave the average asking price for a property in Wales at £168,850. This was in contrast the overall national picture in the UK which saw average asking prices increase by 0.6% in the month.
London prices hit all-time high as new sellers ask £8k more
Rightmove’s London House Price Index for June finds that the strength of the market in the capital continues, leading to a new record high average asking price.
Average asking prices increase for the sixth consecutive month
June saw Rightmove record the sixth consecutive monthly rise in new sellers’ average asking prices, up by 0.6%.
Shortage of new sellers helps push up London asking prices
While nationally new sellers average asking prices increased by just 0.3% (£711), they were again outperformed by the confidence of the capital’s sellers who pushed theirs up by 1.1% (£4,470).