Asking prices in August slip for first time this year

This is the first monthly decline in asking prices recorded by Rightmove this year was driven by upper end, larger properties where prices fell 0.8 per cent

Rightmove suggested the drop in prices was down to buyers no longer being able to make larger stamp duty savings at this level, due to the tapering of the incentive at the start of July.
 
First-time buyer properties saw asking prices rise by 0.6 per cent to £208,714, while asking prices for second stepper homes increased by 0.3 per cent to £309,643.  

Annually, house prices rose 5.6 per cent, flat on the 5.7 per cent year-on-year change recorded last month. 

Rightmove said buyer demand was still strong and predicted there would be an “autumn bounce” both in seller activity and prices. 

Rightmove suggested the drop in prices was down to buyers no longer being able to make larger stamp duty savings at this level, due to the tapering of the incentive at the start of July. 

First-time buyer properties saw asking prices rise by 0.6 per cent to £208,714, while asking prices for second stepper homes increased by 0.3 per cent to £309,643.  

Annually, house prices rose 5.6 per cent, flat on the 5.7 per cent year-on-year change recorded last month. 

This has been adapted from an article first published on YourMoney.com