House prices fall for first time in 2014

Fewer buyers in the market in July has seen a fall in asking prices six times in the past ten years

Would-be house sellers have dropped asking prices this month for the first time in 2014, according to property website Rightmove, amid stricter mortgage rules and increasing fears of an early interest rate rise.

The average asking price on Rightmove has fallen by 0.8 per cent in July to £270,159 – the first monthly fall recorded by the website since December 2013.

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