UK House Prices – Sellers Pull Back On Lower Prices

The average price tag on newly marketed houses, according to Rightmove, has fallen by more than £5,366.

The easing back in value is said to be due to Rachel Reeves's Budgetary measures.

In her October Budget, it was decreed that second-home buyers, landlords, and companies would pay an increased rate on additional properties, while the stamp duty threshold, under which first-time buyers were exempt, would also be cut.

Forecasts were previously for a fairly swift uplift in UK house prices.

However, those hopes are now being strongly tempered, with hundreds of homeowners putting a brake on their ‘selling’ ambitions.