Slight dip at top of the market
The August Primelocation.com Prime Index reveals that, following four months of healthy growth, the average price of a UK prime property slipped 0.3 per cent to £457,052.
Most of the regions also recorded slight prime price falls on a monthly basis, although many continue to witness annual growth. Wales, Yorkshire and the North West were the only regions to see prices up on July levels.
Andrew Smith, research director at Primelocation.com, says: “Top end vendors have continued to put their properties on to the market and now that buyers have a healthy range of quality property to choose from, upward pressure on prices has eased in all but the most sought-after areas. This trend has been exaggerated as buyers put their search on hold over the summer.”