New seller asking prices for homes across Britain plummeted by 1.8 per cent, or £6,589, in November, according to property portal Rightmove. This marks the largest November drop since 2012, bringing the average price tag to £364,833.
Speculation surrounding the forthcoming Budget is fuelling market uncertainty, particularly at the upper end. Homes priced under £500,000 have, however, shown greater resilience to potential policy changes. This month's decline significantly outstrips the decade's average November fall of 1.1 per cent.
