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According to property tracking website Rightmove, the average asking price for a house in the U.K. declined by 1.3% in November, after a 0.6% rise in October.
"New-to-the-market sellers have dropped their asking prices at this time of year for the last eight years, with an average drop of 1.9% over the last five years. Those looking to market their property as Christmas gets closer often have a greater sense of urgency to find a buyer and sensibly recognise that trimming their asking price will provide an incentive to potential buyers more focussed on seasonal Christmas trimmings," Rightmove director and housing market analyst Miles Shipside said.
On a yearly basis, house prices in the U.K. climbed 6.2% in November, after a 5.6% increase in October.
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