July 14, 2019 / 11:17 PM / a month ago

UK house asking prices slip for first time in 2019 - Rightmove

FILE PHOTO: Morning light falls on flat windows in a housing apartment block in London, Britain, September 27, 2018. REUTERS/Russell Boyce/File Photo

LONDON (Reuters) - Asking prices for British homes fell this month for the first time this year as buyers’ confidence took a hit from the escalating uncertainty around Brexit, property website Rightmove said on Monday.

The average asking price for residential property advertised on Rightmove fell by 0.2% in July after a 0.3% rise in June. Compared with a year ago, prices were down 0.2%, Rightmove said.

The fall in July contrasts with signs of improvement in a survey of chartered surveyors published last week, underlining the uncertainty hanging over the housing market.

“The housing market fundamentals remain largely sound in many parts of the country, but the current political climate means that the crucial ingredient of confidence has been impaired, and that is causing some potential buyers and sellers to hesitate,” Rightmove director Miles Shipside said.

Britain’s housing market slowed after voters decided to leave the European Union more than three years ago, but several indicators have suggested a stabilisation in recent months.

Reporting by Andy Bruce, editing by David Milliken

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