Rightmove said average new seller asking prices fell by 1.9, or £7,012, on average to £365,895 in August.
Asking prices for homes in Britain tumbled in the biggest August fall since 2018 this month as soaring mortgage costs put buyers under pressure, according to a property website
The fall is more than double the seasonal 0.9% drop seen in August due to the traditional summer slowdown, according to the group. But demand is still being weighed on across the property market and many sellers are pricing more competitively to tempt buyers against the backdrop of holidays and cost woes.
“But while there is more choice there is no glut of properties for sale, with the number of available properties still lower than at this time in 2019 and homes still selling more quickly, with the average time to find a buyer now 55 days compared to 61 days in 2019.”
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