Thanks for joining us. The average price of a home coming on the market fell by more than £6,000 in November, according to a property website.
Across Britain, average asking prices by new sellers fell by 1.7pc (£6,088) this month to reach £362,143, Rightmove said.
While asking prices do usually record a fall at this time of year, the 1.7pc fall is the biggest percentage drop recorded for the month of November in five years, the report said.
5 things to start your day
1) Police fail to attend nearly 80pc of shoplifting cases – Figures reveal retail crime is worsening as concerns over law enforcement inaction grow
2) Issa brothers strike EV deal with Tesla across petrol empire – EG Group to roll out chargers across thousands of sites in UK and Europe
3) Surge in graduates stuck in jobs not needing a degree – Young people rack up student debt as better-paid jobs remain concentrated in London
4) Estate agents rake in tens of millions from renters’ deposits – Potential earnings have rocketed in wake of high interest rates
5) Magic Circle law firm Freshfields investigates slavery links – City under renewed pressure to confront its past amid Lloyd’s of London reckoning
What happened overnight
Shares edged lower in quiet trading in Asia ahead of a meeting this week between Joe Biden and Chinese leader Xi Jinping.
Tokyo stocks ended flat, with the benchmark Nikkei 225 up less than 0.1pc, or 17 points, to close at 32,585.11, while the broader Topix index was flat, slipping 0.1 points, to 2,336.62.
Biden and Xi are due to meet on the sidelines of the Asia Pacific Economic Cooperation summit this week amid hopes for improved ties between the two biggest economies.
On Friday, Wall Street rose sharply to add to an already strong November, which is on track to be one of the market’s best months of the year.
The Hang Seng in Hong Kong edged 0.1pc higher to 17,227.10.
The Shanghai Composite index slipped 0.1pc to 3,035.95 and the Kospi in Seoul also fell 0.1pc, to 2,408.37.
Australia’s S&P/ASX 200 declined 0.1pc to 6,972.20.
On Wall Street on Friday, the S&P 500 jumped 1.6pc to 4,415.24, the Dow gained 1.2pc to 34,283.10, and the Nasdaq jumped 2pc to 13,798.11.
https://www.telegraph.co.uk/business/2023/11/13/ftse-100-markets-news-interest-rate-housing-share-price-bae/
