The UK\u2019s house price recovery \u201ccontinued in November\u201d, according to the Nationwide Building Society, as falling mortgage rates help to warm up demand.
\nAfter a bumpy year for the housing market UK house prices rose 0.2% month-on-month in November, on a seasonally-adjusted basis. That\u2019s the third monthly rise in a row \u2013 surprising City economists who expected a 0.4% monthly fall.
\nOn an annual basis, prices were 2% lower than a year ago \u2013 a weak result, but the strongest reading since February.
\nThe average price of a house sold in November was \u00a3258,557, which (you may note) is actually slightly lower than October\u2019s \u00a3259,423 \u2013 but that\u2019s before seasonal adjustments.
\nThis data only covers lenders who take out a mortgage, rather than cash buyers, but it\u2019s still a good test of the housing market.
\nThe housing market is benefitting from the drop in UK inflation, which is leading to expectations that UK interest rates will be lower than previously feared. Several mortgage lenders have cut their rates in recent weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"
The UK\u2019s house price recovery \u201ccontinued in November\u201d, according to the Nationwide Building Society, as falling mortgage rates help to warm up demand. After a bumpy year for the housing market UK house prices rose 0.2% month-on-month in November, on a seasonally-adjusted basis. That\u2019s the third monthly rise in a row \u2013 surprising City economists […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4324","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-17K","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=4324"}],"version-history":[{"count":1,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4324\/revisions"}],"predecessor-version":[{"id":4325,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/4324\/revisions\/4325"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=4324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=4324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=4324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}