Nationwide: House prices up again in November

Wednesday, December 2nd 2009

British house prices saw a 0.5 per cent rise in November compared with the previous month.

This is according to new figures from Nationwide, which show that annual property values also registered an increase of 2.7 per cent last month.

Overall, the average property cost £162,764 in November.

However, it is possible that house price growth is levelling out, said Nationwide chief economist Martin Gahbauer.

The expert said: "House prices are now rising at a more moderate pace than in the spring and summer months, when they experienced a very strong bounce from the early 2009 lows."

A lack of properties for sale could be one big reason why house values are rising, according to the Royal Institution of Chartered Surveyors.

However, the organisation's own research also indicates that estate agents are starting to see an increase in the number of properties being registered with them - which may have a downward effect on prices.