UK autumn house price bounce lower than usual in October
The UK autumn asking price in the bounce among home sellers was lower in October than usual, according to a property website.
Across Britain, the average price of a property coming to the market for sale increased by 0.3% or GBP1,165 in October to reach GBP371,422, Rightmove said.
But the rise is below the 10-year average October bounce of 1.1%, as the high number of homes for sale limits sellers' pricing power, the website added.
October typically sees a seasonal increase in activity and new seller asking prices as the market bounces back from a quieter summer period, but activity has not been strong enough to drive the usual autumn bounce in prices, the report said.
It added that when looking at the year-to-date, market activity remains resilient, albeit cautious in some parts of the market.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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