Average house prices registered a 0.2% increase in November, according to the latest LSL/Acadametrics November House Price Index. This is the seventh consecutive month in which the market has seen a marginal gain in price.
Year-on-year house price growth slowed yet again, down to 5.9%, and will slow further as the larger gains of a year ago fall out of the calculations, LSL claims.
The number of transactions in November fell by 4.6%, in the month, and are down 5.3% compared to last November. This is the second consecutive month this year in which transactions are lower than 2009 levels.
David Brown, commercial director of LSL Property Services, said: “We have now seen prices creep upwards for seven consecutive months and this shows that there is strong demand for properties despite the considerable barriers facing buyers trying to obtain finance. The average LTV on a house purchase stands at 57%
