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UK home sales fell 4% in the four weeks to November 23 as many potential buyers retreated from the market amid concerns over higher property taxes in the upcoming budget, real estate agency Zoopla said on Friday.
Buyer demand was 12% lower than during the same period last year, reflecting heightened caution ahead of potential fiscal changes.
Average UK house prices rose 1.3% year-on-year to £270,200 ($357,772). However, prices in London and the South declined for the first time in 18 months, with Zoopla attributing the softness to budget-related uncertainty and a larger supply of homes on the market, giving buyers more choice and increasing downward pressure on prices.
