News Formal

Asking prices drop but the housing market in 2023 has performed better than expected

  • 📰 The Yorkshire Post
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

New seller asking prices in the UK have dropped by an average1.7 per cent this month, though Yorkshire sellers dropped their prices by an average 2.3 per cent, according to Rightmove. Asking prices usually drop at this time of year, as serious sellers price more competitively to attract buyers in the lead-up to Christmas.

However, this year’s November drop is the largest in five years, indicating that new sellers are also increasingly adopting more realistic price expectations from the outset of marketing to tempt potential buyers to act. As we approach the end of 2023, key indicators point to a market that while challenging, has been more positive than many predicted.

Meanwhile, there are yearly price declines in the Midlands and all Southern regions, however the more affordable areas of Wales, Scotland and the North of England have seen asking price rises, as the changed market conditions affect local housing markets in different ways. “Last week, the Bank of England opted to hold the Base Rate for the second consecutive time, which has supported buyer demand and helped to keep it in line with 2019’s level.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 39. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Institute of Grocery Distribution: Food company experts meet Yorkshire pupils for new skills initiativeA major employability scheme connecting thousands of young people with technical, engineering and digital careers in Yorkshire has been launched to help address skills shortages.
Source: The Yorkshire Post - 🏆 39. / 66 Read more »