Asking prices for houses have fallen by more than expected in November as “pre-budget jitters have turned into post-budget disappointment”.
The average asking price of a new house being listed on Rightmove, Britain’s go-to property search website, has fallen by 1.4 per cent this month to £366,592, above the long-term average of a 0.8 per cent decline.
November’s drop follows a similarly lacklustre October, when asking prices rose by just 0.3 per cent, compared with the long-term average gain of 1.3 per cent in the month.
Prices for “top-of-the-ladder” homes — five-bed properties as well as four-bed detached houses — have come under most pressure this month, falling by 3.3 per cent.
Rightmove said that the budget, which increased stamp duty for most home-movers