Annual house price growth remained subdued in November when Brexit uncertainty intensified, new data showed on Thursday.
Lender Nationwide said annual house price growth remained below 1% for the 12th month in a row at 0.8%. However, this was still the biggest yearly rise since April.
November’s average prices stood at £215,734, up from £215,368 in the previous month.
Robert Gardner, Nationwide’s chief economist, said: “Indicators of UK economic activity have been fairly volatile in recent quarters, but the underlying pace of growth appears to have slowed as a result of weaker global growth and an intensification of Brexit uncertainty.”
Ahead of the December 12 election, potential sellers were given some comfort. Gardner said past general elections do not appear to have generated volatility in house prices or resulted in a significant change in house price trends.
David Westgate, boss of real estate consultancy Andrews Property Group, said more affordable prices and low mortgage rates were helping people with purchases.
