UK house prices continue moderate growth
The average house price in the UK rose slightly again in November. Latest figures released by Nationwide reveal that a 0.5% month-on-month increase took the average price from £162,038 in October to £162,764 in November.
The average house price in the UK rose slightly again in November. Latest figures released by Nationwide reveal that a 0.5% month-on-month increase took the average price from £162,038 in October to £162,764 in November.
The three month on three month rate of change – typically a less volatile measure – saw the rate of growth ease back again. In September this figure stood at 3.8% but had eased back to 2.8% in November indicating that house prices were now rising at a more moderate rate than during the summer months.
Commenting on the results David Marshall, business analyst with ESPC, said: "House prices have been inching up over the last few months and are slightly ahead of where they were at this point last year. The rate of increase has cooled somewhat, which should be beneficial as the rate of growth witnessed over the summer would not be sustainable over the longer term."