House prices slipped from record highs and saw biggest drop since January after stamp duty cut came to an end
House prices slipped from record highs and saw the biggest drop since January after the stamp duty cut came to an end.
Properties coming to market were worth £342,401 across the UK in the four weeks to November 6, Rightmove data showed. This was 0.6 per cent – or £2,044 – lower than the month before. And it was the first full period studied since the Government’s stamp duty cut finished at the end of September.
Lull: Estate agents said homeowners are already preparing for the frenzy in internet searches for houses that usually begins on Boxing Day
There is usually a lull in the market during the run-up to Christmas.
Tim Bannister, Rightmove’s director of property data, said: ‘Sellers who come to market this close to the distractions of Christmas often have a pressing reason to sell, so naturally price more attractively to grab the attention of prospective buyers who may be otherwise occupied.’
But estate agents said homeowners are already preparing for the frenzy in internet searches for houses that usually begins on Boxing Day – suggesting that there could be a surge in sales in the new year.
Bannister said some sellers were getting photos taken before putting up their Christmas decorations so that their listing is ready to go.