House price inflation falls

Annual house price inflation fell to 4.8% up to December, its lowest level in nearly two years.

This is down to the number of smaller homes being put up for sale, according to a survey by Rightmove. The survey also showed asking prices fell by 3.2% in the same period – the biggest monthly fall for six years.

Rightmove said that the data may have been skewed by a large number of smaller properties being put on the market before December 14 so sellers would not have to provide a Home Information Pack.

HIPs are now needed for all properties.

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