LONDON

House asking prices in the UK fell in June, as sellers faced the toughest market conditions in a decade, figures from property website Rightmove showed on Monday.

The average asking price dropped by 0.3% to £378,420 (about $515,000), marking an "unusual dip" for the month. Prices typically rise by 0.4% in June, based on the 10-year average.

The fall comes despite buyer demand being 3% higher than at the same point last year.

However, the number of properties coming to market has jumped by 11%, creating a highly competitive and price-sensitive environment, Rightmove said.

The government ended temporary stamp duty cuts in England and Northern Ireland in April, increasing the cost of many transactions by thousands of pounds. Rightmove said this may be weighing more heavily on sellers in some regions.

Asking prices in June saw the steepest falls in the south-west (down 1.6%), south-east (1%) and London (0.9%), where buyer demand appears more affected by the return of full stamp duty charges.

These areas also recorded the largest increases in the number of homes for sale compared with a year ago.