August price fall wipes out top earner’s monthly pay

Home sellers have cut £7,360 off the average asking price this month, the equivalent of a month’s take-home pay on a £145,000 salary. The 2% drop takes the average newly listed home to £364,999, according to Rightmove . It is the steepest August fall since 2018 and well above the ten-year average for the month of 1.3%. Asking prices currently stand at 1% below where they were a year ago, the largest annual fall since December 2023. The equivalent take-home pay figure is based on someone earning around £145,000 once income tax and National Insurance are deducted. The unwelcome news will be a hu