The
average asking price on a property has dropped £8,703 or 3.3 per cent
in the past month, although this still leaves them up 7.0 per cent over
the full year.
The
portal claims this is a further indication of the slowing pace of
growth, though it says it is important to note that the recovery remains
countrywide with all regions recording positive price growth for the
year.
Rightmove forecasts a national average rise in new seller asking prices in the range of four to five per cent for 2015.
The
portal predicts the south east of England will see the highest growth
in prices next year as the London ripple effect continues and stock
shortages remain acute.
These
factors mean that the east and south west regions also look set to
perform better than the northern regions but Rightmove insists that
“London will not be the price rise powerhouse leading the rest of the
country as it has been in 2014” as affordability has already been
stretched to its limit in some inner London locations and the threat of
mansion tax on properties over £2m will remain a deterrent until at
least May’s election.
Rightmove’s director, Miles Shipside, says stamp duty may pep up the market in early 2015 in some areas.
“For
years sellers have had to price at £125,000, £250,000 or £500,000 even
if the property would’ve been worth up to 10 per cent more in a market
that wasn’t distorted by the Stamp Duty thresholds. No newly marketed
property has a reason to price down to such an extent as before, so this
is a limited opportunity and serious buyers around these brackets
should be scouring the market for this older stock” he says.
The
portal says its monthly index is being “refined” and will be in a new
format in 2015. “The refinements will give the ability to report more
in-depth and granular-level data. Some measures will be restated,
including the national and regional average asking prices and numbers of
properties coming to market” says a spokeswoman.
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