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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, Tuesday 6 December 2011 10.48 GMT

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