Nationwide reports 0.3% growth in November

 Nationwide's House Price Index has recorded 0.3% growth during their November period.

The months slowing market brings the 12 month growth figure down half a percent to 8.5%.

The average UK property is now £189,288.

 

The Nationwide's Chief Economist, Robert Gardner said:
 

“The annual pace of house price growth continued to soften in November, falling from 9.0% in October to 8.5%, marking the third consecutive month where annual growth has moderated. This is despite house prices increasing by 0.3% month on month in November.
 

Housing market activity levels have remained relatively weak in recent months. The number of mortgages approved for house purchase in September was almost 20% below the level prevailing at the start of the year and 27% below the long-term average. Similarly, housing market turnover rates are well below long-term averages. For example, the number of mortgage transactions is currently equal to around 4% of the housing stock1 - well below the long-run average of 6%."

 

Read the pdf press release for Nationwide's House Price Index November 2014

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