LONDON (Reuters) -Asking prices for British homes have fallen by more than usual for the time of year ahead of finance minister Rachel Reeves’ budget next week, a survey published on Monday showed.
Average prices for homes put on the market fell by 1.8% in the four weeks to November 8 – the largest drop for the time of year since 2012 – leaving prices 0.5% below their level a year earlier, property website Rightmove said.
The highest number of homes available on the market in a decade was also weighing on prices, Rightmove said.
Other gauges of Britain’s housing market, such as monthly data from the Royal Institution of Chartered Surveyors, have also pointed to a loss of momentum in the run-up to the November 26 budget, which is expected to include tax rises.
($1 = 0.7594 pounds)
(Writing by William Schomberg; Editing by Alexander Smith)
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