LONDON- British Houses asking prices fell this December by a small amount, the smallest for any December since 2006, a Rightmove survey proved on Monday, indicating some upside for a housing market subdued by Brexit and election uncertainty.
Rightmove said that the asking prices, which do not undergo seasonal adjustment, fell on a monthly basis by 0.9% after a bigger-than-normal 1.3% drop in November.
The figures follow the landslide victory of British Prime Minister Boris Johnson in the national election last week. Johnson’s Conservatives won a parliament majority which surpassed the expectations of most analysts and investors.
“With much of the political uncertainty removed, we expect that the number of properties for sale will recover as more new sellers come to market, making up some of this year’s lost ground,” Rightmove director Miles Shipside said.
Rightmove predicts a 2% rise in asking prices in 2020. Compared to a year ago, asking prices were up 0.8% in December, compared to a 0.3% rise in November.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.