Monday, August 20, 2007
Fall in London house asking could signal easing across the country
Asking prices for properties in London have fallen for the first time in a year, bringing hope that softer conditions in the capital could ease affordability pressures across the country. Rightmove, the property website, said that London asking prices, which had risen by around 2 per cent per month for the past year, fell by 0.1 per cent in the past month. The data suggested that sellers are adopting more realistic pricing expectations as purchasers struggle to cope with the impact of five rises in interest rates over the past year and mounting global economic uncertainty.