House Price Rise Slows

Unsurprisingly the brief and modest rise in house prices, that has been latched on to by the housing industry and the politicians as signs of a recovery, is beginning to slow.

Nationwide Building Society report that the cost of a home rose by 0.5% in November. However, the rolling three-month index dropped to 2.8% from 3.5% in October, and 3.8% in September.

This fall is hardly surprising, much of the "rise" was due to a shortage of property available for sale in the market. Additionally, the number of job losses continues to mount.

Posted in: Nationwide,property,recession