{"id":311,"date":"2015-08-22T14:56:25","date_gmt":"2015-08-22T14:56:25","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/august-slump-in-house-prices\/"},"modified":"2018-02-20T02:57:55","modified_gmt":"2018-02-20T02:57:55","slug":"august-slump-in-house-prices","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/august-slump-in-house-prices\/","title":{"rendered":"August Slump in House Prices"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><img src=\"http:\/\/www.georgefwhite.co.uk\/phpmedia\/news\/cropped\/1_e1ce9fcc7c35cb756eca57b19a0ab2c9.jpg\" 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<!-- [if gte mso 10]>\n\n\n\n<style>  \/* Style Definitions *\/ table.MsoNormalTable \t{mso-style-name:\"Table Normal\"; \tmso-tstyle-rowband-size:0; \tmso-tstyle-colband-size:0; \tmso-style-noshow:yes; \tmso-style-priority:99; \tmso-style-parent:\"\"; \tmso-padding-alt:0cm 5.4pt 0cm 5.4pt; \tmso-para-margin:0cm; \tmso-para-margin-bottom:.0001pt; \tmso-pagination:widow-orphan; \tfont-size:10.0pt; \tfont-family:\"Times New Roman\";} <\/style>\n\na-mce-pla<span id=\"urn:enhancement-14c4a8ed-97bb-0cdd-c94a-11563798674b\" class=\"textannotation\">ceholder=\"1\" class=\"mce-object\" width=\"20\" height=\"20\" alt=\"&lt;style&gt;\" title=\"&lt;style&gt;\" \/> <![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\" style=\"li&lt;span id=\">ne-height: 150%;&#8221;&gt;<span size=\"\" span=\"\" id=\"urn:enhancement-c569341c-b6ea-197c-cb90-ea3a61da7ad0\" class=\"textannotation disambiguated wl-thing\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property\">=&#8221;2&#8243; data-mce-styl<span span=\"\">id=&#8221;urn:enhancement-9269e346-9f3f-c700-0b0d-93c59af9d121&#8243; class=&#8221;textannotation&#8221;&gt;id=&#8221;urn:enh<\/span>ancement-4a29e092-9842-fc<\/span>96-ddb6-666a809cf5e2&#8243; class=&#8221;textannotation&#8221;&gt;e<span id=\"urn:enhancement-721b7adb-f7f5-c325-bc7f-8171d93a354a\" class=\"textannotation disambiguated wl-thing\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics\">=&#8221;font-size: small;&#8221; style=&#8221;font-size: small;&#8221;&gt;First time buyers, now is your<span id=\"urn:enhanc&lt;span id=\" urn:enha=\"\" span=\"\">ncement-1f849cb5-dc38-8150-1255-a1861dfa2f01&#8243; class=&#8221;textannotation&#8221;&gt;ement-afb0232f-1060-4f2a-48a7-3e603df47bf3&#8243; class=&#8221;textannotation&#8221;&gt; chanc<\/span>e to get onto the property ladder because asking prices have reportedly dropped all across England and Wales<a class=\"wl-entity-page-link\" title=\"House\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/house\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/house;http:\/\/rdf.freebase.com\/ns\/m.03jm5;http:\/\/dbpedia.org\/resource\/House\" > by a<\/a>n average of 2.9%. It is typical to see a drop in prices around the summer <span id=\"urn:enhancement-c9c10c8b-b4bc-fafd-6&lt;span id=\" urn:enhancement-5b1dc9c4-dc71-1fce-452=\"\" span=\"\" urn:enhancement-d63ea7c9-3157-b47=\"\">3-13f1-4dbadb749a0e&#8221; class=&#8221;textannotation&#8221;&gt;c721-8aa0-17e0-177bf1503dc8&#8243; class=&#8221;textannotati<\/span>on&#8221;&gt;b-a7fd43<\/span>4a3a7b&#8221; class=&#8221;textannotation&#8221;&gt;52d-986f447f2bd1&#8243; class=&#8221;textannotation&#8221;&gt;months but this month\u2019s figures are considerably lower than what was expected. The reason for this slump is likely because so many new properties have gone on the market that current sellers have to lower their asking price to compete. That\u2019s bad news for the seller but excellent news for any<span id=\"urn:en&lt;span id=\" urn:e=\"\" span=\"\">nhancement-7ea7172b-a240-870f-23f1-7338d97437ee&#8221; class=&#8221;textannotation&#8221;&gt;hancement-1bba638f-4e53-76f9-c500-05bf08486e50&#8243; class=&#8221;textannotation&#8221;&gt;one tryi<\/span>ng to buy his or her first home without spending a fortune.<\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" sty=\"\" span=\"\" id=\"urn:enhancement-694d21df-ed4a-97b3-6bf2-ba07ba1fff7d\" class=\"textannotation&lt;span id= disambiguated wl-thing\" s=\"\" urn:enhancement-5c19920d-9c22-c844-c365-c86ccef7e067=\"\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/housing_estate\">&#8220;&gt;<!--<\/span-->span&gt;pan&gt;=&#8221;textannota&lt;spa&lt; span=&#8221;&#8221;&gt;n id=&#8221;urn:enhancement-4b57b0b3-e7b5-92f1-8<span id=\"ur&lt;span id=\" urn:enh=\"\" span=\"\">ancement-263acd66-5a5c-e523-1032-a743460da77e&#8221; class=&#8221;textannotation&#8221;&gt;n:enhancement-433f0dd8-b478-94ba-eaef-19c57f268f91&#8243; class=&#8221;textannotation&#8221;&gt;daa-190ffcd78213&#8243; class=&#8221;textannotation&#8221;&gt;tion&#8221;&gt;l<\/span>e=&#8221;font-size: smal<span id=\"\" span=\"\">=&#8221;urn:enhancement-4cdba2b8-3117-b68c-e8fb-e9da3e9e9d70&#8243; class=&#8221;textannotation&#8221;&gt;l;&#8221;&gt;In some London boroughs, homes that went on sale this August are \u00a372,000 lower than the previous month, making the average house price close to \u00a3780,000. While this i<a class=\"wl-entity-page-link\" title=\"Property\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >s still <\/a>higher than A<span id=\"urn:enhancement-2bdce0ea-dc65-4040-b363-c00df5c72637\" class=\"textannotation disambiguated wl-thing\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property\">ugust 2013\u2019s \u00a3702,000, the property market hasn\u2019t seen a <a class=\"&quot;textannotat&lt;\/span\" href=\"http:\/\/www.telegraph.co.uk\/fi&lt;\/span&gt;nance\/personalfinance\/houseprices\/1&lt;\/span&gt;1042775\/How-Augusts-slump-in-asking-prices-compares-with-the-five-worst-month&lt;span id=\">ion&#8221;&gt;ly-falls.h<span id=\"urn:enhancement-34f8988f-ce0b-d761-8b54-d09220a5a522\" class=\"textannotation disambiguated wl-thing\" span=\"\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics\">&gt;t<\/span>ml&#8221; data-mce-href=&#8221;http:\/\/www.telegraph.co.uk\/finance\/personalfinance\/houseprices\/11042775\/How-Augusts-slump-in-asking-prices-compares-with-the-five-worst-monthly-falls.html&#8221;&gt;summer slump like this<\/a> since Rightmove began collecting these records in 2001. Furthermore, this year\u2019s slump is even higher than that of August 2007 when the property market suffered.<\/span><\/span>&lt;\/spa&lt;&gt;<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\" data-mce-styl=\"\">e=&#8221;line-height: 150%;&#8221;&gt;<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><\/p>\n<p id=\"urn:enhancement-02c789b7-6cbb-518f-946f-14b8a40c&lt;span id=\" class=\"MsoNormal\">ass=&#8221;textannotation&#8221;&gt;9c03&#8243; class=&#8221;textannotation&#8221;&gt;le=&#8221;line-height: 150%;&#8221; data-mce-style=&#8221;line-height: 150%;&#8221;&gt;&gt;So what exactly does this mean for buyers and sellers? Well, if you\u2019re looking to sell your property in the coming months, you\u2019ll likely have to work very hard to get the price you want, par1a35125c3832&#8243; class=&#8221;textannotation&#8221;&gt;ticularly if you\u2019re located in east Anglia which has seen the biggest fall of 4% this month. Selling off your property before the <span id=\"urn:enhancement-7c468c60-d97e-6ac0-2180-72&lt;span id=\" urn:enhancement-c229e050-51be-6fcf-74b0-f1fb86=\"\" span=\"\">46d4cf&#8221; class=&#8221;textannotation&#8221;&gt;3f27e4b48b&#8221; class=&#8221;textannotation&#8221;<span id=\"urn:enhancement-d0fe5426&lt;span id=\" urn:enhancement-918d4e7a-33d3-=\"\" span=\"\">4be7-6516-f2eab7cc1199&#8243; class=&#8221;textannotation&#8221;&gt;-a099-f825-9e38-bea4b6775854&#8243; class=&#8221;textannotation&#8221;&gt;&gt;pric&lt;<\/span>\/span&gt;es drop even further should be your primary goal. For buyers, this is your chance to put forward an offer just under the asking price to get away with a better deal.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\">&gt;;&#8221;&gt;\n<\/p>\n<p class=\"MsoNormal\" style=\"lin&lt;span id=\">e-height: 150%;&#8221;&gt;<span size=\"2\" style=\"font-size: small;\">Of course, predicting house price trends in future months is as reliable as predicting the weather, but if history is anything to go by then November and December \u2013 the months that almost always have the lowest asking prices \u2013 should see a bigger drop from previous years.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p><!-- [if gte mso 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id=\">506-2077-dc4c-11ad-2a492ac6d572&#8243; class=&#8221;textannotation&#8221;&gt;theguardian.com\/money\/2014\/aug\/18\/august-house-prices-slump&#8221;&gt;Click here to read more about this topic from the Guardian.<\/a><\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><span size=\"2\" style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"line-height: 150%;\"><a href=\"http:\/\/thelittlehousecompany.com\/\"><span size=\"2\" style=\"font-size: small;\">If you\u2019re looking to buy or sell, check out our website for advice on For Sale By Owner sales.<\/span><\/a><\/p>\n<p><!--EndFragment--><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Image Source: http:\/\/www.georgefwhite.co.uk\/news\/house-price-history&#8212;what-you-need-to-know\u00a0 \u00a0 ne-height: 150%;&#8221;&gt;=&#8221;2&#8243; data-mce-stylid=&#8221;urn:enhancement-9269e346-9f3f-c700-0b0d-93c59af9d121&#8243; class=&#8221;textannotation&#8221;&gt;id=&#8221;urn:enhancement-4a29e092-9842-fc96-ddb6-666a809cf5e2&#8243; class=&#8221;textannotation&#8221;&gt;e=&#8221;font-size: small;&#8221; style=&#8221;font-size: small;&#8221;&gt;First time buyers, now is yourncement-1f849cb5-dc38-8150-1255-a1861dfa2f01&#8243; class=&#8221;textannotation&#8221;&gt;ement-afb0232f-1060-4f2a-48a7-3e603df47bf3&#8243; class=&#8221;textannotation&#8221;&gt; chance to get onto the property ladder because asking prices have reportedly dropped all across England and Wales by an average<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/august-slump-in-house-prices\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[17],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/august_slump_in_house_prices","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/311"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=311"}],"version-history":[{"count":3,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/311\/revisions"}],"predecessor-version":[{"id":15186,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/311\/revisions\/15186"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=311"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}