Hey everyone, it's Robby here with Rob De and you are listening to the property podcast.

It is the final market update of the year. We've got the fallout from the budget.

We've got a collapse in asking prices. And we share what we think is the biggest news story of the last month.

And it hasn't even made the news.

Yes, welcome to the property podcast.

Thank you for joining us in case you don't know.

We run a company that buys more than £100 million worth of property for our clients every year.

You can find out about that at property hub.net slash invest.

And as always, we keep up with the property news so you don't have to.

And we can summarise it all neatly for you once a month. So let's get into it. So let's kick off with our

first story, which comes courtesy of right move. And that is that asking prices fell by 1.8% in

November. If it sounds like quite a lot for one month, it's because it is. It was more than

was expected, especially for this time of year. And it doesn't really come as any surprise because

of the sentiment and the budget and all the noise around that. But also, right move have reported

that we have a decade high number of homes for sale, which did actually surprise me. I didn't

realize so many people were testing the

market. So there's a lot of people trying to sell, not really moving their asking prices,

but it seems, Rob, in the last month, that there's been a bit of movement there and people are

being a little more realistic about what they can achieve. It seems like it. It's very UK property,

isn't it? People get very tied to their price. And if they can't get their price, unless they really have to sell, they just won't sell. And so there's always going to be people who need to, for reasons of work or whatever. But there are many, many more people who are exploring it, put it on the market. But if they're not getting the offers they want, they just won't sell. And right move shows that it's homes above half a million pounds that have been most affected this year. Agreed levels of sales have dropped 8% year on year. Why is that? Well, £500,000 was the magic number in all the budget rumours. That's the point at which new property taxes might have kicked in. As it turned out, they didn't, but it was enough to cool that market. And the report points to two things that it says the market needs in order to kick on. One is further interest rate cuts. The other is less uncertainty about taxes. And it's possible, Rob, that going into the end of the year, start of next year, we may get both those things.

We may and we'll look ahead towards the end of the podcast, which doesn't sound like it should

be like that, but that's what we'll do, because we want to discuss the numbers in from

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