Average house price falls by thousands in November
The IndependentGet the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The usual drop seen at this time of year is 0.8 per cent and November is the second month in a row that price growth has been weaker than usual, Rightmove said. Rightmove expects asking prices to increase by 4 per cent across 2025, but it cautioned that the market remains price-sensitive, and seller competition is at its highest level for a decade. “This sets us up for what we predict will be a stronger 2025 in both prices and number of homes sold, particularly if mortgage rates fall by enough to significantly improve affordability for more of the mass market.” Rightmove said its data indicates that a drop in buyers contacting estate agents about homes for sale after the autumn Budget was followed by a rise in buyer demand in response to the recent Bank of England base rate cut. The speed at which mortgage rates come down next year will be key in determining activity levels for some of the market’s traditionally busiest periods, and sellers will still need to price temptingly enough to secure a buyer while the choice of homes for sale remains as high as it is right now.”