Most agents are reporting this already from their own data but the annual growth in UK house prices slowed to 8.2 per cent in November compared with 8.8 per cent in October, according to the latest figures from the Halifax.
The lender, part of Lloyds Banking Group, said that property prices were 0.4 per cent higher last month than they were in October. The price of the average home is now £186,941.
Martin Ellis, housing economist at Halifax, blamed slowing prices on a combination of a larger number of completions and waning buyer interest.
These factors have contributed to the easing in price growth since summer. But demand continues to be supported by a strengthening economy, rising employment, low mortgage rates and the first gain in real' earnings for several years. We expect a further moderation in price growth over the next year with prices nationally expected to increase three to five per cent in 2015 he says.
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