House prices slide

Posted By: James

Monday 21st July 2014

House prices have fallen for the first time this year, according to the latest figures from Rightmove. Would-be house sellers lowered asking prices in July, amid stricter mortgage rules and increasing fears of an early interest rate rise. The average asking price on the property portal has fallen by 0.8% in the month to £270,159. The fall in asking prices was widespread across England and Wales, and included the south-east and Greater London. Only the north-west, the West Midlands and East Anglia recorded a rise. The north of England and the east Midlands suffered the biggest declines of 1.9% each, and house prices in Greater London dropped 0.4%. However, Rightmove increased its growth forecast for house prices this year as a whole to 8%, the top end of the 6% to 8% range set at the start of the year.

 

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