House prices fall by 1.7 per cent House asking prices fell this month in the latest sign that the market is cooling, according to a property website. Rightmove said prices fell 1.7 per cent as sellers compete to attract buyers during the quieter winter months, although the average figure for the UK is at £267,127 after prices rose 8.5 per cent on a year earlier. The website’s housing market analyst Miles Shipside said underlying demand remains strong but has been muted by higher prices stretching affordability. The ability to borrow more to fund those higher prices has been curtailed by tighter mortgage lending criteria, he added. Mr Shipside said: 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. Land Registry The year to date has seen the highest 12-month period for housing transaction volumes since 2007, although average stock levels held at estate agents fell to an average of 60 properties, a record low in November. New properties coming onto the market in November slumped by 15 per cent on last month and are 1 per cent down on a year ago. Source: manchestereveningnews.co.uk/ manchesterinnews/house-prices-fall-by-1-7-per-cent/
Posted on: Mon, 17 Nov 2014 08:15:49 +0000
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