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UK house prices fall 1.2% in June as house price growth reaches near zero for past twelve months - Rightmove
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U.K. house prices have declined by their biggest amount so far this year as buyers shun the market, thereby deepening Britain's property slump, Rightmove Plc has stated said in its latest house price report...
The average asking price for a home dropped 1.2 percent from May to 239,564 pounds. Prices in London declined 1.4 percent. On the year, the cost of a U.K. home has risen by just 0.1 percent over the past twelve months.
Miles Shipside, commercial director of Rightmove, said in a statement;
"The declines should go some way to helping buyers whose affordability is being stretched still further by rising inflation and mortgage rates.
"The adjustment is belated but in some ways welcome as it makes homes affordable for buyers. Thankfully, new sellers are now taking some proactive steps to price more realistic from the outset to attract increasingly hard-pressed buyers."
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