By Joe Hoppe The average house price in the U.K. fell 1.9%, or 7,012 pounds ($8,938) in the month to August 12--the biggest fall in asking prices in a month...
The average house price in the U.K. fell 1.9%, or 7,012 pounds in the month to August 12--the biggest fall in asking prices in a month since 2018--according to new data from Rightmove released on Monday.
This bigger-than-average dip indicates some sellers are taking the initiative to price competitively, and tempt buyers that might be more preoccupied with holidays, inflation and the highest interest rates since 2008, Rightmove said. First-time buyer asking prices slipped 0.9% on month to GBP223,614, and were down 0.2% on year. Second-stepper prices fell 0.8% on month to GBP338,137, while top-of-the-ladder homes fell furthest, slipping 3.4% to GBP664,756.
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