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UK House Prices Fall Again in November 2011

The price of house prices fell 0.9% in November according to the Halifax price index.

A average home will now cost £161,731 which is down 1% compared to November 2010. According to the Halifax this is the third fall in the past four months bringing the house prices down by 0.6%.

Despite the negative trend, Halifax housing economist Martin Ellis said house prices had been stable: “[November prices continued the] mixed monthly pattern seen this year. House prices have remained remarkably stable in 2011 despite the difficult and deteriorating economic climate and the substantial pressure on households’ finances.Mark King guardian.co.uk, Tuesday 6 December 2011 10.48 GMT

It looks very probable that the price of properties will continue to drop until March 2012.