House prices slide further

Julian Harris
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HOUSE prices dropped by a further 0.1 per cent in November, the Halifax reported yesterday.

Prices were down 2.4 per cent on the end of 2009, averaging £164,708 per house.

From September to November, prices were 2.1 per cent lower than in the preceding three months, the house price index (HPI) showed.

The three month comparison is less volatile than the month-by-month data, which actually showed a 1.8 per cent increase in October.

“Such a varied monthly pattern is consistent with a relatively flat underlying trend for house prices,” said Martin Ellis of the Halifax.

Yet the decline is not near the drops of five or six per cent in 2008.

And prices in November remained £10,045 higher than in April 2009.

And the situation in London and the home counties is far rosier than in other parts of the country, according to LSL property services.

Today LSL released data showing house price rises throughout London. Prices in Camden, Merton and Barnet have increased by over 20 per cent in the past three months.

The average house price in London has reached a new high of £383,243, it said.

This is partly due to foreign buyers seeking out top end London properties.

And rises were also recorded in Oxfordshire (17.1 per cent) and Windsor and Maidenhead (13.4 per cent), according to LSL.