Average UK house prices drop by £5,366 as post-budget jitters set in [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
This marks the second month of higher than average declines on the trot, with the usual drop seen at this time of year being 0.8%, according to property portal Rightmove. Last month's pre-budget jitters have turned into post-budget disappointment, creating new challenges for the housing market, and appear to have caused a larger-than-normal seasonal slowdown in pricing as we head towards Christmas, Rightmove said. Read more: Britain's most affordable towns to buy a house revealed Despite the budget, activity remains stronger than last year due to optimism around the interest rate cut path, which is feeding through to mortgage rates. Due to this, following analysis of real-time data, Rightmove has forecast a 4% increase in average new seller asking prices next year. Although prices are predicted to rise, the market is expected to remain price-sensitive, with sellers currently competing with a decade-high number of other sellers to attract a buyer. While more mortgage rate cu
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