House price annual growth fell in November

UK house prices reached a record high in November, however overall growth slowed to the weakest rate since 2024 according to the latest data from Halifax’s house price index.

Prices were broadly unchanged last month, edging up £138, bringing the average house price to £299,892, a new record high.

This follows a 0.5 per cent price increase in October.

However, annual growth slowed to 0.7 per cent, down from 1.9 per cent in October, marking the weakest rate since March 2024.

Industry figures have credited this “static period” to Budget uncertainty prior to November 26, in particular over potential tax rises.

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