Nationwide House Price Index for November 09 shows house prices increasing slowly still with a rise of 0.5% from Oct 09, but an increase to 2.7% yearly growth from this time last year. Nationwide state that this increase has been helped by better than expected news from the job market.
“This suggests that house prices are now rising at a more moderate pace than in the spring
and summer months, when they experienced a very strong bounce from the early 2009 lows.” Martin Gahbauer, Nationwide’s Chief Economist
The 3 month on 3 month rate, generally seen as a truer picture of the market as it cuts out any short-term volatility, actually dropped from 3.5% to 2.8%