UK house prices up in November

UK-house-price-upHouse prices in UK have got increased by 0.1% in November, which although have dropped from 3.9% to 3.7% year on year annual growth. A data from Nationwide shows that it was the weakest performance in monthly growth since June.

Robert Gardner, Nationwide chief economist says: “Growth rates have been changing throughout the year bringing the annual growth to narrow range between 3-4% in past six months. The Housing market activity depends upon the building activity which can keep up with the increasing demand. Surveyors have been reporting on the lack of properties in market making the availability of homes at the lowest level. “

According to Neal Hudson “The total growth may be closer to 4% by December, the price rises are largely due to the increased competition in market which have led to low rates and high lending multiples.”

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