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Monday, November 17, 2014

Rightmove's November fall in asking prices

Rightmove's latest data indicates a cooling of the property market as we enter the winter months.

As the quiet season begins, the asking prices of property coming onto the market in November was 1.7% down on October's prices. The small seasonal fall of £4,542 on the average property price of £267,127, is smaller than the usual drop at this time of year.

Miles Shipside of Rightmove commented 

“Selling is more difficult than it was earlier in the year, though the mini-boom experienced by much of the country has hit the pause rather than the stop button,” 

“Underlying demand remains strong but has been muted by higher prices stretching affordability at the same time as the ability to borrow more to fund those higher prices has been curtailed by tighter mortgage lending criteria.”

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