The average price tag on a home in the UK has dropped by more than expected in July. Latest data from Rightmove said the average asking price for a home fell by 0.4 per cent or £1,617 month-on-month in July to £373,493. This is down slightly from £375,110 in June.
“It’s very early days, but the new Chancellor’s immediate announcements on housebuilding targets and planning reform are positive signs that the Government is keen to get going with its manifesto pledges. With many areas of the market that could be improved, we hope that the new Government is able to get on with its plans and deliver sustainable housing policies that help the market in the medium to longer term.
Despite this, the South East of England saw average asking prices drop by 2 per cent while the South West saw a drop of 0.5 per cent.