Budget speculation has depressed the UK property market, figures from a leading property website have suggested, with asking prices slipping in the run-up to Rachel Reeves’s much-anticipated fiscal set piece on 26 November. This trend is also being felt locally, with many Chester houses for sale seeing reduced interest as buyers wait to see what the budget may bring.
The average new seller asking price fell by 1.8%, or £6,589, month on month in November, the figures collated by the property website Rightmove show, taking the average price tag on a British home put up for sale to £364,833. For anyone considering listing a property for sale in Chester, understanding these market shifts is essential.
The data has emerged as the chancellor faces pressure to reform property taxes. Housing market experts, including TV presenter Kirstie Allsopp, say “people are in a panic” about potential stamp duty changes and therefore “sitting tight” before the budget. This hesitation is contributing to uncertainty across the market — but it also creates opportunities for proactive sellers.
It is fairly common for prices to fall month on month in November, with the average drop being 1.1% over the past decade, Rightmove says. However, the current fall is the biggest for this time of year since 2012, with 34% of homes on the market reducing their prices and then implementing an average reduction of 7%. Both numbers are the highest since February 2024.
For sellers, especially those with Chester houses for sale, this makes choosing the right estate agent crucial. Using A Move Homes for sales or A Move Brokers for mortgage advice can help owners navigate the uncertainty. With competitive fees, no-sale-no-fee protection, and expert local knowledge, they offer a strong advantage during a challenging period in the property market.