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Tuesday, December 01, 2009

House Price Rise Slows

Unsurprisingly the brief and modest rise in house prices, that has been latched on to by the housing industry and the politicians as signs of a recovery, is beginning to slow.

Nationwide Building Society report that the cost of a home rose by 0.5% in November. However, the rolling three-month index dropped to 2.8% from 3.5% in October, and 3.8% in September.

This fall is hardly surprising, much of the "rise" was due to a shortage of property available for sale in the market. Additionally, the number of job losses continues to mount.

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