Slight drop in house prices
House prices from September to November
were 0.7% lower than in the previous three months
The figures from Halifax represent the sixth consecutive fall and are 1.3 per cent lower than in the same period last year. House prices in November were virtually unchanged compared with November 2011 at an average of £160,879.
Martin Ellis, Halifax housing economist, said: "Both demand and supply pressures in the market have altered little during the course of 2012, and this has been the key reason for the lack of anything other than modest changes in house sales and prices at a national level compared with a year ago. Challenging economic conditions have constrained housing demand whilst low interest rates have helped to support affordability and demand.
"There are signs that the Funding for Lending Scheme (FLS) is helping to reduce mortgage rates and may be contributing to the recent pick-up in mortgage approvals. The FLS should help to ease credit constraints, resulting in some improvement in mortgage availability in 2013."
Ellis added that he expected continuing broad stability in house prices nationally in 2013, with house prices likely to be strongest in London and the South East.
Life & Style blogs
A roundup of the latest property news
Plus, do energy saving measures boost house prices?
The spring menswear season has only just begun, but I've already started to get deep and meaningful....
- 1 Breaking the Silence: In the reality of occupation, there are no Palestinian civilians – only potential terrorists
- 2 Special Report: US troops are stationed in Japan to protect the nation. But to sex workers in Okinawa, they bring fear, not security
- 3 Should we intervene? Our response to the Charles Saatchi and Nigella Lawson assault is shocking too
- 4 Exclusive: Cristiano Ronaldo advised to stay at Real Madrid for further 18 months before making possible switch to Manchester United
- 5 Iran to send 4,000 troops to aid President Assad forces in Syria
Negotiable Depending on Experience: The Green Recruitment Company: The Green R...
£25000 - £30000 Per Annum: The Green Recruitment Company: The Green Recruitmen...
Negotiable: Progressive Recruitment: Dear Sumadhab, A growing engineering comp...
Negotiable: Randstad Education Ilford: We are currently recruiting for a Year ...