UK house prices were broadly unchanged in November, edging up by £138 to a record £299,892, according to the latest Halifax house price index. Annual growth slowed sharply, from 1.9% in October to 0.7%, the weakest rate since March 2024. Halifax said the slowdown largely reflected the base effect of much stronger price growth at the same time last year.

A widening regional divide

Northern Ireland remained the strongest performing nation or region, with prices up 8.9% over the past year to an average of £220,716. Scotland recorded annual growth of 3.7% to £216,781, and Wales rose 1.9% to £229,430. In England, the North West led with growth of 3.2% to £245,070, followed by the North East at 2.9%. Further south, prices fell in London by 1.0%, the South East by 0.3% and eastern England by 0.1%.

Affordability at its best in a decade

Amanda Bryden, head of mortgages at Halifax, said the figures reflected "one of the most stable years for the housing market over the last decade", despite spring's stamp duty changes and uncertainty ahead of the Autumn Budget. She said affordability was now at its strongest since late 2015, with mortgage costs as a share of income at their lowest level in around three years. Looking ahead, Halifax expects prices to rise modestly, by between 1% and 3% in 2026, with market activity steady and further interest rate reductions expected. Jason Tebb, president of OnTheMarket, said confidence among buyers and sellers had been boosted by five base rate cuts over the past 16 months.

[Source: Financial Reporter](https://www.financialreporter.co.uk/house-prices-hit-new-record-high-despite-static-market-halifax.html) | [Source: Fidelity / Sharecast](https://www.fidelity.co.uk/shares/stock-market-news/company-news/house-price-growth-stalls-in-november-ahead-of-budget---halifax/?articleid=35543118&categoryid=0100,0101,0102,0103,0104,0105,0106,0107,0108,0109,0110,0111,0112,0113,0199)