The average asking price of a home has fallen this month amid signs it is turning into a buyers’ market. The average house price is now £308,692, down £656 on June, according to Rightmove.
The average house price figure is now £308,692, down £656 on June, according to Rightmove.
It is the first month-on-month drop this year. The average time taken to sell a property is 62 days, the slowest since 2013. Furthermore, estate agents have more properties on their books than at any time since 2015. Experts say that makes it a good time for buyers, with more homes on offer at better prices.
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Rightmove’s Miles Shipside said: “Those who have postponed their purchase should note that estate agency branches have more sellers on their books than at any time for the last four years, so there should be more choice of properties to buy.
“It could be a good opportunity to negotiate a relative bargain in the second half of the year, if they can set aside the continuing Brexit distractions.”