House prices are still unseasonably strong for November.
Recent research data from housing research company Hometrack highlights that the average house price in England and Wales went up 0.6% in November, now standing 5.3% higher than 2005.
This is highest rate of annual house price growth on record by this firm in the last two years.
Shorter evenings as well as Christmas approaching make November a very quiet month normally for the property market. Seasonal factors are evidently secondary to housing demand this year.
There has been a continuous increase in housing market activity in the last two months.
Although supply is lessening , house prices are rising. This trend has spread beyond the South, London and the South East.
November prices rises were the highest in London (1.2%), as well as the south east and East Anglia (0.7%).
House prices went up in 39% of all the postcode districts in England and Wales, much higher than the 25% recorded for October.
Such increases are not going to go on forever what with higher interest rates as well as fuel bill affordability.
The increase in interest rates is likely to dampen levels of acitvity over December. It is forecast that average house prices are going to go up 4% during 2007.
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House Prices Still High Mon, 27 Nov 2006
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