Rightmove.co.uk recently released their November 2012 House Price Index. Average asking prices by new sellers are down -2.6%, yet the least severe fall in November for 2 years

Rightmove.co.uk recently released their November 2012 House Price Index. Released mid-month is covers figures from 7th October to 10th November.

Their headline figures show:

  • average asking prices by new sellers are down -2.6%, yet the least severe fall in November for 2 years
  • against the same period last year prices are actually up 2% – the highest November annual rate since 2007
  • rightmove.co.uk search activity has been up by 20% and enquiries up 11% over the year
  • there is less supply in lower price bracket properties – naturally pushing up prices
  • Bank of England mortgage approvals up 9.2%

Miles Shipside, director and housing market analyst at Rightmove comments:

“Though the market remains patchy and national statistics are given a  gloss by a buoyant London market, there are a number of positive trends that justify cautious optimism as the market enters its’ winter recess. Outside the capital, agents report prices are broadly flat in many parts of the country compared to a year ago. This stability may indicate a sounder springboard for 2013 as the wait goes on for a sustainable recovery in transaction numbers.”

To find out more about Rightmoves announcement and Miles Shipsides comments take a look at their announcement video below: