Quarterly house price growth to November has slowed to 1.4% according to the Halifax House Price Index.
It said quarterly growth eased from 2.8% in the three months to October, while annual price inflation slowed to 9.0% from 9.7%.
Despite the slowing growth, Martin Ellis, Halifax housing economist, said: “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.”
