LONDON, July 21 Asking prices for houses in
Britain have fallen for the first time this year although they
are likely to pick up more speed before the end of 2014,
property website Rightmove said on Monday.
Prices of property coming onto the market fell by 0.8
percent in July, leading to a slowing in the annual rate of
price growth to 6.5 percent from 7.7 percent in June, according
to Rightmove's House Price Index.
There have been other signs of a slowing in Britain's
fast-recovering housing market recently.
"A price fall in July is not unexpected as prospective
buyers turn their attention to the summer holidays, not to
mention the added distraction of an engaging World Cup," said
Rightmove director Miles Shipside.
Asking prices have fallen in July in six of the last 10
years, reflecting a normal seasonal drop.
But stricter rules on mortgage lending and suggestions from
the Bank of England that interest rate rises could come sooner
than previously expected could also have played in a role in the
decrease, Rightmove said.
Despite the fall in July, Rightmove upgraded its forecast
for growth in asking prices to 8 percent in 2014, from a
previous prediction of a range of 6-8 percent. More houses were
coming onto the market but demand was still stronger than supply
in the most popular areas, it said.
(Reporting by Tess Little; Editing by William Schomberg and