House prices in the United Kingdom decreased in November, the latest house price balance from property tracking website Rightmove showed on Monday.
The house price index fell 1.3 percent month-over-month in November, which was the smallest drop since 2011. In Contrast, prices grew 0.6 percent in the prior month.
On annual basis, house prices climbed 6.2 percent in November. That follows the 5.6 percent rise in October.
“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.
“Buoyant market conditions and a confident outlook for 2016 mean that the reduction, while no-doubt welcome to hard-pressed buyers, is the most Scrooge-like since 2011! It’s likely to be a short-lived respite as the combination of high confidence and low interest rates is a recipe for higher prices next year.”
The material has been provided by InstaForex Company – www.instaforex.com