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Halifax released its house prices data for the U.K. on Tuesday. House prices in the U.K. decreased 0.2% in November, missing expectations for a 0.3% gain, after a 1.0% rise in October. October's figure was revised down from a 1.1% increase.
On a yearly basis, house prices climbed 9.0% in the three months to November, after a 9.7% increase in the three months to October.
"Solid economic growth, rising real earnings and falls in already very low mortgage rates have combined to stimulate housing demand this year. The increasingly acute imbalance between supply and demand is causing prices to rise at a robust pace. A situation that is unlikely to reverse significantly in the short-term," Halifax's housing economist Martin Ellis said.
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