The average price tag on a home coming on the market has dipped by nearly £5,000 month-on-month, marking the first fall this year so far, according to a property website. Across Britain, the average asking price fell by 1.3% or £4,795 in cash terms month-on-month in August to reach £365,173, Rightmove said.
However, the fall may be more due to a usual seasonal lull than wider economic factors such as interest rate rises, the website said. Prices usually fall in August, and the 1.3% drop is in line with the average drop seen that month over the past 10 years, Rightmove said.
This month also marks 20 years since the first Rightmove house price index was first published. The average asking price for a home has more than doubled since then, standing at £155,994 when the index started.
