Asking prices dip in the run up to Christmas

Posted: 12 Dec 2006 12:03:59 GMT

The average asking price for houses on the market fell by 0.3 per cent in December, but the figures should not be taken as a reflection of a cooling in the market, according to a new report

The average asking price for houses on the market fell by 0.3 per cent in December, but the figures should not be taken as a reflection of a cooling in the market, according to a new report.

The expected slowdown in prices in the second half of 2006 has not arrived, and the effects of two recent interest rate rises are not obvious, Rightmove said.

It is more likely that the slight dip in asking prices is down to a seasonal aberration as buyers' minds turn to festive celebrations and sellers price their properties for a quick sale.

Miles Shipside, commercial director of Rightmove, said: "Everyone was forecasting a slower rate of growth from June onwards as rising household bills hit buyers' ability to pay record prices.

"However, the strength of the housing market in 2006 has exceeded everyone's expectations, and we've seen further growth this autumn, which is only slowing down now that Christmas is on the horizon.

"For buyers, the small fall this month may indicate that sellers will talk turkey on their prices over Christmas."


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