The asking price for properties has fallen in the South West region, according to Rightmove. Experts at the property website say that in August, the average asking price in the region was £389,064 - a fall of 0.6 per cent compared to July.
This reflected a general national trend, with prices dropping by 1.3 per cent month-on-month across the country. However, asking prices in the South West are actually up 11 per cent compared to this time last year. And according to Rightmove, a drop can usually be expected in August.
Tim Bannister, Rightmove’s director of property science, explains: "A drop in asking prices is to be expected this month, as the market returns towards normal seasonal patterns after a frenzied two years, and many would-be home movers become distracted by the summer holidays. Indeed, for those that can, this may be their first summer holiday abroad since before the pandemic.
