Average asking price for UK home drops by £5,000 in November

Analysts say market is still relatively busy despite decline of 1.4%, which is unusually high for this time of year

The average asking price for a UK home has dropped by more than 5,000 this month as the autumn budget caused housing market jitters before the usual Christmas slowdown.

Average asking prices from new sellers fell by 5,366, or 1.4%, in November to 366,592, compared with the 0.8% decline usually recorded at this time of year, according to the website Rightmove.