UK Home Prices Dip Over £5,000 in November

The housing market shows signs of recovery for 2025 despite recent price declines and budget-related uncertainties.

The average asking price for UK homes fell by £5,366 in November, marking a 1.4% decrease from the previous month.
This decline is sharper than the typical 0.8% drop expected during this time of year, according to Rightmove's data.
The autumn budget, which included increased stamp duty for many buyers, contributed to a slowdown in market activity.
Despite current price drops, Rightmove forecasts a 4% rise in asking prices for 2025, driven by expected mortgage rate cuts.
The Bank of England's recent interest rate reductions have begun to boost buyer demand, setting the stage for a potentially stronger housing market next year.