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Prices fall 0.1% in November, but still up 1.4% in last three months

09 Dec 2015

Although house prices fell 0.1% in November compared to October, the average house price is 9% higher than a year ago, according to the latest Halifax House Price Index. They are also 1.4% higher in the last quarter

Released yesterday, the index says the average UK house price is now £204,552

Halifax also added that due to the continuing imbalance between supply and demand, ie not enough houses, prices are likely to continue rising at least for the next couple of years. Although the government has recently committed to rapidly increasing the number of new houses, this will take several years to start exerting downward pressure on house prices

The strength in prices is down to rising real earnings, solid economic growth, and falls in already-low mortgage rates

For the actual release click here

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