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UK Home Asking Prices Post Biggest November Fall in Five Years
Asking prices for UK homes recorded the biggest November decline in five years as more sellers accepted the reality of finding buyers in a credit-constrained market, according to Rightmove. The 1.7% drop, the biggest for the month since November 2018, lopped more than £6,000 ($7,320) from the value of property being offered for sale, the listings portal said in a report Monday. It left the average asking price at £362,143, the lowest since the end of last year. The number of sales agreed was 10% below the same time in 2019. “The larger-than-usual drop this month signals that among the usual pricing seasonality, ... (full story)