House Prices Continue to Fall
For the 3rd month in a row, house prices has fallen, with the latest Rightmove survey showing a fall of 1.1%. New sellers have dropped their prices by 3.4% or £8,000 over the past 3 months.Annual house price inflation, as a consequence, has fallen from 4.3% in August to 2.6%.
The fall in prices is being blamed on an oversupply of property and few proceedable buyers. Rightmove did say though that new properties coming onto the market had fallen, so perhaps the oversupply will ease over the coming months.
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