UK House Prices Rise | Slow House Price Raise | NGI Residential Mortgages

House prices rise at slowest rate since 2012: Your Move

House prices rise at slowest rate since 2012: Your Move 1024 576 NGI Residential Mortgages

House prices rose at their slowest rate since April 2012 in November, at 0.2 per cent since October, and 0.9 per cent on an annual basis.

This leaves the average house price in England at Wales at £305,522, which is £2,724 more than this time last year.

Your Move adds that despite this downbeat news, with 82,500 sales recorded in November, transaction levels were up 2.5 per cent when measured annually – and marked a record high in three years.

Looking at activity on a regional level, the highest monthly growth was seen in Greater London, where prices rose 1.3 per cent in November, whereas in Yorkshire and the Humber prices fell by 0.3 per cent. This latter region is, additionally, the only one where a monthly fall was recorded.

Looked at annually, properties in the West Midlands saw an average rise of 3.7 per cent, with Wales not far behind at 2.7 per cent. Mirroring the composition of the monthly outlook, the East of England can claim to have the only negative growth when looked at over a 12-month period, recording an average drop of 0.2 per cent.

Further analysis by Your Move shows that annually, the number of first-time buyers grew 0.4 per cent, home movers dropped 3.6 per cent, and buy-to-let borrowers dropped 13 per cent. The website puts this down to both Brexit jitters and issues with affordability.

Your Move managing director Oliver Blake says: “Despite the current economic uncertainty it’s encouraging to see that there is still some increase in transaction levels and that, whilst house price growth is relatively flat, it means for FTBs, for example, the news remains positive.”

* Content Source – Mortgage Strategy