Rightmove reports ‘a slower than usual August’
'Many sellers reacted to the summer holiday hiatus by reducing the asking prices of their properties,' says portal.
August sees ‘much larger than usual price drop’ – Rightmove
Average UK asking prices are now 2% lower than at their peak in May - but remain nearly a fifth higher than in August 2019.
Asking prices dip as buying activity falters – Rightmove
Buyer demand 'remains resilient', says property portal - but transaction numbers have fallen as higher interest rates bite.
‘The belated spring price bounce has quickly turned into an earlier than usual summer slowdown’ – Rightmove
Property portal still expects average asking prices to end 2023 2% lower than they started they started the year.
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Far fewer deals are taking place in prime London than at this time last year.