UK home sellers pull back in November amid unusually high uncertainty, Rightmove says

Asking prices for homes in the UK dipped in November, despite a sharp drop in the number of new sellers on the back of lacklustre prices and political uncertainty, the results of a closely-followed survey revealed.

According to property website Rightmove, prices for new properties coming to market in the UK dropped by 1.3% or £3,904 versus October, as the number of new sellers shrank by 14.9% in comparison to a year ago, with the latter marking the largest decline seen since August 2009.

Versus the same month one year ago, asking prices were virtually flat, while at the top end of the ladder they were £6,142 cheaper.

Rightmove director, Miles Shipside, emphasised the dampening effect on sentiment which the highly unusual combination of a Brexit deadline followed by a snap general election was having.

"I've seen lots of unusual events affecting the property market in my 40-year career, but a Brexit deadline followed by a snap general election six weeks later is obviously a new combination for me and for many thousands of buyers and sellers," Shipside said.

Indeed, should sellers remain reluctant extend into the spring, that could have knock-on effects throught 2020, potentially reducing housing market activity, Rightmove said.

On the flip-side, Shipside believed that a more certain outlook - which ever that might be - would be a welcome change for those who are contemplating moving.