UK house prices on the rise for fifth month in a row
House prices have increased for five months in a row, new figures reveal.
Property values across the UK were up by 0.5% month-on-month in November, marking the fifth consecutive monthly rise, Halifax said. At £226,821 on average across the UK, house prices were 3.9% higher in November than a year earlier.
On a quarterly basis, property values between September and November were 2.4% higher than in the previous three months.
This increase was the fastest quarterly growth seen since January.
Russell Galley, managing director of Halifax Community Bank, said: "While the annual rate of growth eased in November with the first decline in this measure since July, when looking at quarterly change prices in the three months to November were marginally higher than in the preceding three months; the fourth consecutive quarterly increase.
"The imbalance between supply and demand continues to support house prices, which doesn't look like changing in the near future.
"Further ahead, increasing affordability issues, as price increases continue to outstrip wage growth, are likely to curb housing demand and cause price growth to ease."