House prices have fallen by more than £2,000 in the past month as estate agents reported a lull of buyers ahead of Christmas.
The average asking price fell to £342,401 in November, a drop of 0.6% compared with last month, according to Rightmove.
This was the biggest monthly reduction since January 2021 and only the third time prices have fallen this year. The acute shortage of homes for sale and the extended stamp duty holiday otherwise ensured values rose for the majority of 2021. The average price tag is still 6.3% higher than this time last year, however.