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Slowest house price growth for eight months

House prices grew at their slowest rate in eight months in November, according to figures published last week by the Office for National Statistics.

Prices rose by 10 per cent year-on-year, from £246,000 to £271,000. This was the slowest annual rate of growth since April 2014.

First-time buyers were hit harder than homemovers by rising prices with 11 per cent annual growth in November. 

Prices for homemovers, on the other hand, increased by 9.5 per cent over the same period.

E.surv director Richard Sexton says: “First-time buyers are being squeezed between the rock of reduced lending and the hard place of climbing prices.”

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