17/12/2007

Fall Reported In House Asking Prices

The average asking prices from homes in England and Wales have suffered a sharp fall, according to the latest figures from estate agents Rightmove.

Rightmove said that property asking prices had fallen by 3.2% from November and suggested that the drop was sparked by people rushing to sell before the extension of the new Home Information Packs on December 14.

The average asking price fell by more than £7,000 to £232,396.

Although house prices traditionally suffer a slump in December, Rightmove said that the extent of the drop hinted at "genuinely tough market conditions".

Properties in London were the worst affected by the slump, with asking prices falling by 6.8%.

(KMcA)


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