Early Christmas gift for buyers as sellers lower their price expectations:

November 19, 2018

 

National Trends

•           The price of property coming to market falls by 1.7% (-£5,222) this month, and whilst it is the norm for new seller asking prices to fall at this time of year, this is the largest November drop since 2012

•           New sellers pricing more realistically in effort to minimize pre-Christmas ‘buyer humbug’ syndrome fueled by stretched affordability and Brexit uncertainty

•           All regions see a monthly price fall, with largest falls in the south and the upper price sector:

•           Higher end London commuter towns - where prices have risen by over 40% since 2011 -unsurprisingly have significant price falls

•           Annual national rate is marginally negative (-0.2%, -£607) for the first time in seven years

•           Price slowdown seen as an early Christmas present for some buyers with numbers of sales agreed up nationally by 1% compared to same period a year ago, indicating some sound underlying fundamentals

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mark@walshestates.co.uk

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