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.