Buyers’ market as the asking price for homes falls by £1,000

THE average asking price for houses has fallen by more than £1,000 in the past month, according to new figures.

They show that across England and Wales, the average this month is £316,109, representing a 0.4 per cent or £1,172 fall compared with May.

It was the first fall in the month of June since 2009 – at the height of the credit crunch – according to Rightmove, which said some parts of the country were ‘leaning towards a buyers’ market’.

The property website said it is also the first monthly decline in asking prices it has seen this year. Overall growth this month was dragged down by London and the South East, where asking prices were down 2.4 and 0.9 per cent respectively.

By contrast, they increased by 1.7 per cent in Yorkshire and the Humber, 1.3 per cent in the North West and East Midlands, 1.2 per cent in the South West, 0.7 per cent in the North East and 0.8 per cent in Wales.

Asking prices dipped by 0.8 per cent in the West Midlands, the only other region apart from London and the South East to record a fall this month.