Home sellers dropping asking prices

Its latest figures showed the average asking price fell in August by 2.2% or £5,102 to £222,762. This was the biggest monthly fall recorded this year but it echoed the 2.3% decline in August 2008. Rightmove attributes the drop to the aggressive nature of sellers in the summer months who lower prices to sell to a smaller pool of buyers. Miles Shipside, commercial director at Rightmove, says the figures show prices will bump along the bottom before returning to consistent growth. He says: "After several months of activity and prices revving upwards from last winter's low point, bo...