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Number of new properties coming to market falls in first half of January

Asking-price growth has hit its lowest level for January since 2012 Rightmove data released 21 January shows. Its listing figures revealed that the average new asking price of properties is up 0.4% annually to £298,734, the lowest monthly rise for this time of year since January 2012. It does however reverse a trend of two consecutive months of falls in annual price growth.

Rightmove data on the first two weeks of January also revealed that the number of properties coming to market is down 2.1% compared with the same time a year ago. While the overall average drop means that the supply of new property is broadly in line with last January, in some regions there were significant falls.

There was an 11% drop in Wales and a 10% drop in listings in London, largely offset by rises elsewhere, with the largest increase a 3.3% rise in the East Midlands, Rightmove said.

Looking back at last month, Rightmove’s data shows that the average time to sell has hit 70 days, up from 65 in November and from 67 in December 2017. Average stock per agent in December was 46, down from 50 in November but up from 43 in the same month in 2017.

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