UK house prices unchanged in November

  • Price of a typical home unchanged over the month in November
  • Prices just 1.2% below the level prevailing twelve months ago
  • The typical home is now worth £163,853

Headlines

Nov 12

Oct 12

Monthly Index*

327.6

327.5

Monthly Change*

0.0%

0.6%

Annual Change

-1.2%

-0.9%

Average Price (not seasonally adjusted)

£163,853

£164,153

* Seasonally adjusted figure (Note that monthly % changes are revised when seasonal adjustment factors are re-estimated)

Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said:
“The annual rate of house price inflation remained in negative territory for the ninth month in a row in November. However, the pace of decline remained extremely slow, with prices just 1.2% below the level prevailing in November 2011.

“The predominant theme remains one of stability. Indeed, UK house prices were unchanged over the month in November, after taking account of normal seasonal factors. Moreover, annual price growth has remained in a narrow band between +1.5% and -1.5% on all but two occasions over the past two years.”

Read November’s HPI report HERE for more detail.

Ref: http://www.nationwide-intermediary.co.uk