Fall of 2.3% in seller鈥檚 asking prices in August contributes to 0.3% year-on-year fall

Housing asking prices have fallen 0.3% in the last year according to Rightmove.

In August prices fell 2.3% following a 1.6% fall in July.

The property website said the number of sellers on the market was 30% below 2007 levels.

It predicted that despite current market turbulence there would be no sharp decrease in prices because prices were already 鈥渂umping along the bottom.鈥�

The East Midlands and the North saw the biggest year-on-year fall in asking prices, 5.3% and 4% respectively. The largest annual increase of 3.2% was in London but it suffered the biggest fall in August asking prices of 3.4%.

The average selling price in the UK is now 拢231,543.

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