Despite dip in monthly growth, house prices reach record high

November’s house price index, published today by LSL Property Services / Acadata, highlights a steady annual rise in house prices in England and Wales, as figures reveal a 6% increase on November last year.

The data indicates that house prices grew by £16,466 between November 2014 and November 2015, equivalent to £45 per day.

This brings the average house price in England and Wales to £290,640.

House prices rose to a record level despite a stumble in the monthly rate of growth in November, which fell to 0.6% - slower than the 0.9% monthly uplift witnessed in October.

The South East of England experienced the fastest growth in house prices, displacing East Anglia which fell to second place, while London dropped to fourth.

House sales fell by 15% in November, similar to the decline that was recorded in November 2014.

However, total completed sales for the 11 months of 2015 are still 3.4% lower than the same period in 2014.

Analysts are predicting a late winter surge in house sales, caused by the forthcoming stamp duty surcharge, as landlords and buyers looking to invest second homes hurry to beat the Chancellor’s deadline.


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