House prices remained the same in November as the previous month, says Nationwide, in figures which agree broadly with Hometrack?s findings, published at the end of last week.
In spite of the strong rebound the mortgage lender recorded for October, November proved to be a lot calmer, presenting an overall picture of stability for the market, says the report.
The annual growth rate now stands at 2.4%, down from 3.3% last month, almost identical to the situation in May earlier this year, Nationwide claims.
?As we expected, the strong rebound in prices in October was temporary, driven by buyers postponing purchases until after the August base rate cut, and the overall picture remains one of stability,? Fionnuala Earley, Nationwide?s group economist said.
Nationwide also sees these figures as cause to be relatively optimistic about the future: ?Encouragingly, forward indicators continue to suggest that confidence in the market remains. Estate agents are reporting increased buyer interest and that buyers and sellers are reaching agreement on price more readily,? Ms Earley continued.
?While the economy has slowed since mid-2004, with retail sales particularly affected, there now seems to be widespread agreement that it is showing tentative signs of recovery,? she added.
To view house prices in your area sourced from Land Registry data, visit www.ourproperty.co.uk
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