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

Finance

Your First-Time Buyer Mortgage Journey

Introduction Buying your first home is one of the biggest financial decisions you’ll ever make, and the mortgage process can feel like a maze of unfamiliar terms, forms and waiting. The good news is that mortgages for first-time buyers follow broadly the same path, and once you understand the stages involved, the process becomes far…
Read More →
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau…
Read More →
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau analysed…
Read More →
Breaking News

Second-steppers turn to higher LTV mortgages as deposits fall

Barclays mortgage data shows the average value of home movers’ (non-first-time buyers) deposits fell -24.8 per cent year-on-year However, the average purchase price for home movers increased 1.0 per cent year-on-year in June, as borrowers make use of higher loan-to-value mortgage products to climb the ladder 34 per cent of prospective second-steppers say they feel…
Read More →
Breaking News

Breaking Property News 23/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Guide to AI in Commercial Real Estate: Executive Summary by Ascendix AI in commercial real estate – a beginners manual Wes Snow, co-founder & CEO of Ascendix Technologies, ”Approximately 75% of US real estate companies have already started using AI in their operations in…
Read More →
Estate Agent Talk

Conservatories fall out of fashion

Conservatories fall out of fashion as fewer than one in 10 homes boast the former must-have feature   The latest market analysis from eXp UK has revealed that conservatories appear to have fallen out of favour with England’s homeowners, with fewer than one in 10 properties currently listed for sale offering the once-popular home improvement.…
Read More →