The asking prices for UK houses dipped slightly in the month of November as sellers sought to offload their properties ahead of the expiry of the stamp duty holiday in March, according to a survey published by property website Rightmove.
Editorial Team | 23rd November, 2020
The average property price fell by 0.5% or £1,500 in November compared to that of October, as sellers look to sell there homes at a more realistic price to achieve a quick sale before the
31st March 2020
Is this something to be worried about? well according to Rightmove the answer is no as
asking prices usually drop at this time of year, and this month’s drop is actually lower than they’ve seen over the past few years.
" Given the ongoing mini-boom, prices might have been expected to rise again this month," Tim Bannister, Rightmove’s director of property data, said. "but instead we have a slight dip which could be a result of some new sellers pricing more realistically to have a better chance of agreeing a sale in time to benefit from the stamp duty savings on their onward purchase."
For sellers the good news is that buyer demand is staying strong despite the second national lockdown in England, the number of sellers coming to market last month was up 35% on the same time last year.