The average house price in the UK has increased by 8.2%, or £19,650, in the past 12 months, although the quarterly growth rate of house prices is slowing, property listing platform Zoopla has reported.
In its September House Price Index, Zoopla said there are no immediate indications of a major slowdown in price inflation. It, however, noted that there are early signs of price sensitivity from the scale of reductions in asking prices of homes for sale.
“There has been a clear upward trend in the proportion of listings which have had asking prices reduced by 5% or more over the spring and summer,” Richard Donnell, research executive director at Zoopla, said. “The latest data shows that 6% of homes listed for sale have seen the asking price adjusted downwards.
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