UK House Prices Remain Unchanged in November

According to the results of the latest market analysis performed by LSL Property Services Plc and Acadametrics Ltd., house prices in Great Britain remained unchanged in November 2011.

As such, the average property in England and Wales was priced at 220,000 pounds. The sales volume increased by 4.5% compared to October 2011, however, it fell by 0.7% on the annual basis.

In the opinion of Acadametrics Ltd. experts, the rise in sales level and the stability of the house prices might well be linked to the fact that "homebuyers with “substantial” deposits taking advantage of low interest rates to buy property" before the stamp duty holiday is cancelled in the spring of 2012.

Let us remind that earlier this month, the Bank of England made a decision to keep the base rate at the current level of 0.5%. This means that the cost of mortgage loans will remain relatively low in the month to come.

The analysis by LSL Property Services Plc and Acadametrics Ltd. is based on the figures from the Land Registry and other price indices.