New figures show decline in asking prices

There has been a fall in asking prices for homes in the UK, new figures have revealed.

Rightmove’s house price index stated that there has been a 2.2 per cent drop between this month and last, while the year-year fall stands at 3.1 per cent.

This dip “virtually mirrors” the 2.3 per cent fall seen last August and is therefore indicative of seasonal factors being at work, observed commercial director at Rightmove Miles Shipside.

At the same time, he stated that further rises in asking prices – which have occurred in five of the last seven months – will stop unless there is an increase in the supply of mortgage finance.

Earlier this month, Ray Boulger, the senior technical manager at mortgage brokers John Charcol, said data from the Council of Mortgage Lenders (CML) on lending figures was “pleasantly surprising”.

The CML figures showed a 23 per cent rise in homes loans and a 13 per cent jump in remortgages.

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