New asking prices have fallen by the steepest level since 2012, Rightmove said this morning.

The latest sold data shows that properties earlier this year were selling for more than current average asking prices.

Rightmove today warns that affordability issues and political uncertainty are hitting the market.

Listing data between November 11 and December 8 from the portal shows asking prices have now fallen on a monthly basis for two consecutive months, at 1.7% in November and 1.5% in December, with average new asking prices now at £297,527.

However, this figure is below last month’s actual price tags, reported at an average of £305,522 by YourMove today based on Land Registry data.

These completions would have been deals done months ago.

If both Rightmove and Your Move figures are correct, it suggests that the price fall in the market has been more significant than previously reported – and that today’s new sellers’ asking prices remain over-priced, despite the cut in expectations.

Rightmove said today that property listings are usually cheaper at this time of year, but that this is the biggest fall over two months for six years.

New asking prices are up annually by 0.7% this month, reversing a 0.2% drop in November.

This is close to the 1% annual growth that Rightmove had forecast for 2018.

RIghtmove figures also show that sales agreed are currently down by 2.1% while it is now taking agents 65 days on average to sell a property, up from 62 a year ago.

Miles Shipside, director and housing market analyst for Rightmove, said: “It’s usual for new-to-the-market sellers to price lower in the run-up to Christmas to tempt distracted buyers, so we should not read too much into the mere fact of two consecutive monthly falls.

“However, these falls have been larger than usual, making this the largest fall over two months for six years, showing that there are more than just seasonal forces at play.

“With stretched affordability limiting some people’s ability to buy for the first time or trade up, a modest lowering of property prices combined with an increase in wage growth could help more of them to move and thus increase transaction numbers.

“As well as the usual Christmas slowdown, would-be sellers are also faced with downwards price pressure from stretched buyer affordability and political uncertainty.”

Shipside added that the portal anticipates zero growth in new listing prices next.

Separately Your Move data for November – also out this morning – shows average sale prices grew at their slowest rate since April 2012, up 0.9% annually to £305,522.

The east of England recorded negative growth for the first time since March 2012 last month, down 0.2%.

However, despite weak price growth, the agent estimated that transactions were at a three year-high for November at 82,500.

Oliver Blake, managing director of Your Move, said: “Despite the current economic uncertainty it’s encouraging to see that there is still some increase in transaction levels and that, whilst house price growth is relatively flat, it means for first-time buyers, for example, the news remains positive.”