New-seller asking prices rise 1% in October to £371,015, but sales agreed are 8% below last year, Rightmove finds

Rightmove's October House Price Index, published on 19 October, shows the average asking price of newly listed homes rose 1.0% (£3,575) to £371,015, leaving it 0.1% below a year earlier. Rightmove puts the average two-year fixed rate at 5.55%, up from 5.29% a month ago and 4.25% in February, and reports buyer enquiries 9% down on last year while the number of homes for sale is at its highest for the time of year since 2014. For sellers, that means more competition and a stronger case for pricing realistically from the first day of marketing; for buyers, it means more choice and more room to negotiate, even as higher borrowing costs narrow what many can afford. These are asking prices set by new sellers rather than agreed sale prices, and cheaper regions moved the other way, with the North East down 2.0% and Scotland down 1.9% on the month.