Asking Prices for British Houses Post a Stronger Annual Gain in December
The British housing market continues to remain under strain, with asking prices for houses in Britain sliding lower in December, but by the smallest amount in 13 years. A survey by Rightmove reveals that asking prices for British houses declined by 0.9% MoM in December after 1.3% monthly decline seen in November.
Looks like as the Brexit deadline approaches and with Johnson’s Conservatives clinching a decisive victory in the recent elections, markets are turning more optimistic in hopes for an impending revival in the British economy. Johnson’s victory removes an element of political uncertainties that had weighed on markets while it also reduces the likelihood of a no-deal Brexit.
On a yearly basis, asking prices had climbed 0.8% higher during December, after gaining 0.3% in November. In more optimistic news, Rightmove anticipates asking prices for houses in Britain to rise by 2% next year.
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