Property prices in UK fall an average of £5,000 in the last month

November 19, 2018

Without a doubt, browsing property on Rightmove or Zoopla where reduced listings are highlighted, it is now a common theme to see house prices being dropped in order to attract buyer attention. A headline released on Daily Mail online today states ‘Property prices have dropped by more than £5,000 in the past month alone‘.

Rightmove figures show that a first year on year asking price fall has occurred since 2011 with £5,000 average being knocked off of prices in the last month. A recent report I looked at showed that property portals are awash with reduced asking prices.

So with house prices lower than they were a year ago and with a very uncertain Brexit looming sometime ahead, has the pack of cards suddenly collapsed in the UK housing market and that endless upward trend now going to adjust itself? More realistic house prices will be the theme ahead for those looking to sell property?

Miles Shipside, of Rightmove, said: ‘Stretched buyer affordability and the cooling markets in the South and in upper price brackets have combined with the ongoing political uncertainty to change pricing optimism into pricing realism.’

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Home and Living

7 Space-Saving Porch Swing with Stand Solutions for Small Yards

Porch swings signify feelings of relaxation and classic properties as they turn an outdoor space into a warm and comfortable haven. Nevertheless, for people living in small yards or with no outdoor area, getting a swing with its own stand is very difficult. The benefit is that these choices come in many different options, which…
Read More →
Letting Agent Talk

Investing in Properties to Let as Airbnbs on the Isle of Wight

The Isle of Wight, a gem located off the southern coast of England, has become a prime destination for holidaymakers seeking a tranquil escape. This growing popularity has opened up lucrative opportunities for property investors, particularly those interested in letting properties as Airbnbs. Here, we delve into the benefits, considerations, and strategies for investing in…
Read More →
Breaking News

Breaking Property News – 16/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   PriceHubble powers Mitsubishi Estate’s newly launched real-time generative AI property consultant Zurich/Tokyo, May 16, 2024 – PriceHubble, Europe’s leader in property data solutions for finance and real estate, is powering an innovative generative AI solution launched in beta version on the Japanese market by Mitsubishi…
Read More →
Breaking News

Breaking Property News – 15/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Savills Investment Management wins City of Munich as a new tenant in the Atrium office building Press Release – Frankfurt, 15th May 2024. Savills Investment Management (Savills IM), the international real estate investment manager, has signed a lease agreement with the City of Munich…
Read More →
Estate Agent Talk

7 Ways to Scale Your Property Portfolio Up or Down

Imagine standing atop a hill, surveying a sprawling cityscape where each building represents a piece of your property portfolio. As you consider expanding or consolidating your assets, you’ll find that strategies like leveraging equity and exploring new markets can be your compass and map. Utilizing the BRRRR method or engaging in 1031 exchanges might adjust…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 15/05/24

Headlines The average 5-year fixed mortgage rate is now 5.02%, up from 4.59% a year ago The average 2-year fixed mortgage rate is now 5.42%, up from 4.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.95%, up from 4.56% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.53%, up from 4.27% a year ago The average monthly mortgage payment on…
Read More →