House prices grew by 0.2% in November, the fourth consecutive rise which puts the year-on-year figure for UK house prices at -2.9% according to the latest Hometrack report.
The recovery has now been felt across 37% of the country, Hometrack says, with the largest number of rises taking place in London and the South East: values are up across 78% of London and over 50% of the South East. However, in five regions less than 20% of the market has registered any price rise.
Richard Donnell, director of research at Hometrack said: ‘The pick up in market activity over 2009 has been driven by rising demand yet the latest survey shows that new buyer registrations grew by just 0.1% in November, which is the lowest level since the start of the year.
‘A decline in demand is always inevitable towards Christmas but there are signs that the upward pressure on prices is likely to decline in the months ahead.’