November house price figures confirm slowdown

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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