Mixed messages on house prices from Halifax

Halifax report that house prices in the three months to November were 9% higher than on the same period last year.

However, annual house price growth has slowed a little from 9% in October and although prices are up year-on-year, they actually fell 0.2% between October and November to an average of £204,552.

Martin Ellis, the Halifax housing economist, said “solid economic growth, rising real earnings and falls in already very low mortgage rates have combined to stimulate housing demand this year.

“The increasingly acute imbalance between supply and demand is causing prices to rise at a robust pace. A situation that is unlikely to reverse significantly in the short-term.”

The Nationwide survey for November also showed that the annual house price growth slowed last month decreasing to 3.7% from 3.9% in October.