Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

House prices have fallen for the first time this year, according to property website Rightmove, but does this mean we are heading for a market crash? The website reports that the “average price of propertycoming to market in August fell 0.3%”, which is a small drop of £1,076, to £337,371. The property market slowdown follows the ending of the stamp duty holiday and a subsequent fall in demand for bigger homes. "Average prices have only fallen in the upper-end sector," said Tim Bannister, Rightmove's director of property data. First-time buyers and second-stepper properties are still in demand, leading to new record high average prices in those sectors, he added. Rightmove figures revealed a 0.8% drop in the four-bedroom-plus sector, but new record price highs in the two-bedroom sector, up by 0.6%, and three to four bedroom second-stepper-type properties, up by 0.3%. Summer holidays normally lead to a slowdown in activity in August, experts pointed out, with many anticipating a slackening in demand. Source: BB