- British home asking prices experienced a 0.6 per cent decline in June, equating to a £2,113 reduction, marking the largest June drop in 14 years, according to Rightmove.
- This month-on-month fall brought the average asking price across the country to £376,191, with Rightmove suggesting higher mortgage rates and an increased supply of homes are weighing on activity.
- Rightmove noted that more affordable regions of Britain, such as the North East of England and Scotland, are demonstrating relative stability in prices compared to the same period last year.
- Separately, property firm Hamptons reported that the average price of a newly agreed let in Britain rose by 1.1 per cent over the year to May, reaching £1,382 per month.
- The South East of England saw its average new let rent reach £1,500 per month in May, the first time any region outside London has hit this figure.
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