Shares in housebuilders Barratt Redrow PLC (LSE:BTRW) and Berkeley Group Holdings PLC (LSE:BKG) were among the early fallers on Monday as fresh data from Rightmove pointed to a cooling UK housing market.
The average asking price for a home rose 0.3% this month, or £1,165, to £371,422, well below the ten-year October average increase of 1.1%.
The modest rise suggests sellers are struggling to command higher prices in a market still hampered by affordability pressures and buyer caution.
Rightmove said the national average asking price is down 0.1% on the year, masking regional divides. Prices fell across London and the South of England, the capital down 1.4%, while Wales, Scotland and the Midlands all saw gains of at least 1%.
Rightmove added that while demand and listings remain slightly stronger than last year, the usual autumn bounce has yet to materialise amid tax uncertainty and increased housing supply.
Sellers, it said, will need realistic pricing to attract hesitant buyers.