Price inflation falls again

The Hometrack national November survey of the housing market reveals house price rises averaging only 0.2%, writes Helen McCormick.

This is the sixth successive fall in house price inflation since May&#39s peak of 2.6%. The slowdown has been mostly the result of falls in higher value properties, mainly in London and the South East. House prices falls have been prevalent all over the capital this month. But elsewhere in the country, house prices continue to rise, led by Suffolk (0.7%), North Wales (0.6%), Teesside (0.6%), Nottinghamshire (0.6%) and Bedfordshire (0.5%).

John Wriglesworth, Hometrack&#39s housing economist, comments: “House price rises have continued to moderate following unsustainably high rises over the summer. But low interest rates, high employment and rising incomes continue to sustain housing demand in most parts of the country and we expect this to continue.”