UK house prices fall for first time this year
Written by crest887fm on August 16, 2021
House prices have fallen for the first time this year, according to property website Rightmove.
It said the average price of property coming to market in August was down 0.3%, a drop of £1,076.
That was prompted by the ending of the stamp duty holiday and a subsequent fall in demand for bigger homes.
“Average prices have only fallen in the upper-end sector,” said Tim Bannister, Rightmove’s director of property data.
However, properties aimed at first-time buyers and second-steppers are still seeing high demand, leading to new record high average prices in those sectors, he added.
Rightmove figures revealed there was a 0.8% drop in the four-bedroom-plus sector, but new record price highs in the two bedroom sector, up by 0.6%, and three to four bedroom second-stepper-type properties, up by 0.3%.