(Bloomberg) — Asking prices for U.K. homes slipped this month as owners sought to get sales agreed in time to benefit from a temporary tax cut.
Average advertised prices fell 0.5% from October to 322,025 pounds ($424,000), property website Rightmove said Monday. They are still up 6.3% from a year earlier, the biggest increase in over four years.
Activity in the market is booming as buyers and sellers look to get transactions completed before the end of a reduction in a levy on home purchases in the spring.
The property website estimates there are 650,000 sales in progress, 67% more