–House Prices Down 0.1% In Nov M/M; -0.7% 3M/3M y/y

LONDON (MNI) – UK house prices fell by 0.3% last month from the
previous month, according to the latest Halifax house price survey.

Prices over the September-November quarter were down 2.1%, the
Halifax said, while prices fell 0.7%% in the 3 months to November
compared with the same 3 months a year ago.

Commenting, Martin Ellis, housing economist, at the Halifax, said:

“The rate of decline in prices on the three month-on-three month
measure has picked up over the past few months, but it remains well
below the declines of 5-6% in the second half of 2008.”

“Higher numbers of properties for sale, combined with reduced
demand, have caused the recent decrease in prices. There are, however,
some tentative signs that homeowners are becoming more reluctant to put
their properties on the market which, if continued, will help to relieve
the current downward pressure on prices,” he added.

–London newsroom: 44207 862 7492; email: ukeditorial@marketnews.com