Property values peak

Average UK house price at near standstill month-on-month in November

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House prices stalled month-on-month in November, although a slight increase of some £138 in the average property value was still enough to push it to a new record high, according to one index.

Halifax recorded a 0.0% month-on-month change in the average house price in November, following a monthly increase of 0.5% in October.

In cash terms, the average house price crept up by some £138 month-on-month, which took the average house price to £299,892 - a new record.

Annual growth in property values slowed sharply to 0.7%, down from 1.9% in October.

Amanda Bryden, head of mortgages, Halifax, said: “Average house prices were broadly unchanged in November, edging up by £138 compared to October, with the typical property now costing £299,892.

“Annual growth has slowed to 0.7%, the weakest rate since March 2024, though this largely reflects the base effect of much stronger price growth this time last year.