"The state of the housing market is little different now to this time last year"
- Miles Shipside, commercial director of Rightmove
Home sellers in the U.K. cut asking prices for a third consecutive month in September, as prices in eight regions out of the 10 reported a decline in prices. Average asking prices in England and Wales fell 0.6% to £234,858, after erasing 2.4% in the prior month. Despite an overall fall in prices, house prices in London grew 0.3% in September and were up 6.6% from a year earlier.
"Summer sellers have had some very stiff competition, not only from competing sellers chopping their prices but also from the Olympics extravaganza which has been more compelling for many than viewing property," said Miles Shipside, commercial director of Rightmove.
"The state of the housing market is little different now to this time last year and prices have stagnated as neither buyers nor sellers have been forced to change their behaviours in sufficient quantities to stimulate greater activity."
The FTSE 100 Index gained 0.65 per cent to 5,819.92. The broader FTSE All-Share Index increased by 0.60 per cent to 3,036.49.
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