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January 15, 2008    

November house price figures confirm slowdown

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by Gill Montia

The Department of Communities and Local Government has this week published November house price figures that show the market continuing to slow down.

During the month, the mix-adjusted average house price stood at £218,330, down from £220,195 in October (not seasonally adjusted).

UK annual house price inflation in November was 9.5%, down from 11.3% in October, although in London annual inflation fell to 14.1% in November, down from 17.7% in October.

The figures put average UK annual house price inflation at 10.5% for the three months to the end of November (16.1% in London).

Between October and November average prices for detached homes fell 2.4%; bungalows 0.9%; flats 0.6%; and semi-detached houses 0.3%. The price of terraced houses increased slightly but by less than 0.1%.

Scotland saw an increase in annual house price inflation in November, to 14.0%, as compared with 13.9% in October.

The lowest annual inflation rates were in the North West (5.8%), Yorkshire and the Humber (5.7%) and the West Midlands (4.3%).

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