According to the Rightmove House Price Index September 2017, the average price of property coming to the market has fallen 1.2% (-£3,660) this month. This is the first monthly fall at this time of year since 2013.
This national average price fall has been exacerbated by London continuing to readjust, and smaller falls in the other southern regions.
By comparison, the East Midlands housing market remains strong, leading the other regions with a +5.5% annual change in the average house asking price; although the month on month increase is very small £208,343 (+0.0%) on August 2017.
Rightmove say this is potentially good news for buyers’ finances with average earnings of +2.1% now almost double annual property price increases of +1.1% – the lowest annual rate of house price increase since February 2012
Chris Pick, Business Development Manager and Valuer for Alasdair Morrison & Partners said:
"A lack of housing stock has kept the average house asking price strong in the East Midlands, although vendors cannot afford to be greedy. If a property is priced correctly, then it will be snapped by by eager buyers. But overpriced stock will linger.
"If you're keen to get into you dream home by Christmas, then now is the time to request your free market appraisal from us. Just give us a call to set up a convenient time and date and one of our experienced local valuers will give you a fair appraisal of your property's value."
