Annual house price growth hits seven-month high

Annual house price growth has hit its highest level since April, according to Halifax.

The lender’s House Price Index for last month claimed prices were 2.1% higher annually at £234,625.

This was up from 0.9% in October and the highest rate since annual growth of 2.6% was registered for April.

Price were up 1% on a monthly basis – the largest since 1.5% was recorded in February – after a 0.1% decline in October.

The figures contrast with Nationwide’s rival index which had annual growth at a far more subdued 0.8% last month.

Russell Galley, managing director of Halifax, said: “Average house prices rebounded somewhat in November, with annual growth of 2.1% being driven by the biggest monthly rise since February, following two months of modest falls.

“Prices are now up by £3,904 since the start of the year.

“While a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties.

“It is these issues which we believe will continue to underpin the resilience evident in the market for most of 2019. Over the medium term we expect the emerging trend of modest gains to continue into next year.”



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