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House prices rise again in November

Published: 01/12/2009

House prices rose again by 0.5 per cent in November, the seventh consecutive month showing growth.

The rise puts the average house price in the UK at £162,764 and brings the total annual change to 2.7 per cent, according to data from Nationwide.

This puts the property market at a similar level as it was in early 2006.

Stephen Thornton, a spokesman for the Royal Institute of Chartered Surveyors, said that the market will face "a number of challenges in 2010 including the imminent removal of the extended zero rate band of stamp duty and the prospect … of an increase in base rates".

He added: "Arguably, it would however be even more of concern if house prices were to continue moving smartly ahead through the coming year. Accessibility is already a major issue with most traditional metrics of value highlighting the difficulty new entrants to the market have in taking a first step on to the property ladder."

House prices reached a low in February this year after suffering a year's fall of 17.6 per cent.

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Last Updated: 11-02-2012