House prices are slipping

Each month we get updates on the state of the housing market. This morning we get to see what’s happening to asking prices from Rightmove who report that in some areas they are slipping back. As always, there are wide variations but it can be helpful to watch the national trend. The asking price is either an indication of the sellers greed or the agents enthusiasm to get the instruction to sell the property so the ‘sold’ prices are more helpful when working out what’s really happening to values.

Here’s my summary;-

On Tuesday morning the Office for National Statistics will update their ‘Sold’ price index and we will get to see how much less buyers are paying than asking price which will be available here.