Property asking prices in Britain slipped 1.6 per cent in November, showing the seasonal lull over the Christmas period.

Property website Rightmove said that new sellers in England and Wales slashed asking prices by an average of £3,744 to £226,440 between October and November. Prices in London dropped 3.1 per cent on October, while prices in Barking and Dagenham were down by 5.3 per cent during the same period.

Yorkshire and Humberside reported the sharpest fall in asking prices, where they shed 4.4 per cent from last month.

Speaking on the issue, Rightmove’s commercial director Miles Shipside said, “While the market has recovered from some dreadful lows, this month's price fall proves that it does not yet have the strength to buck seasonal trends.”

Asking prices were down by 6.6 per cent from their peak in May last year.

As per figures compiled by Rightmove, only 89,140 new houses have been put for sale in the market.