Halifax: House prices static in November

On a monthly basis, house prices were broadly unchanged in November (0%) after a 0.5% monthly increase in October.

Annually, house prices were up 0.7% versus this time last year.

As a result, the current average property price is now £299,892.

Shepherd Ncube, CEO of Springbok Properties, said, “The market coming to a standstill in November provides yet more evidence of the pre-Budget paralysis that has frozen the market in recent months, as buyers and sellers stepped back to wait for clarity.

Unfortunately, the Chancellor ultimately gave them nothing and so whilst the uncertainty may have lifted, we can expect the market to now limp towards the finish line in 2025, with no surge in activity expected to drive us into 2026.”

Verona Frankish, CEO of Yopa, said, “A static rate of house price appreciation in November reflects the holding pattern that the property market found itself in ahead of the Autumn Budget. Buyers waited, sellers held back and activity naturally slowed until households knew what the Chancellor had in store.

That moment has now passed, but what matters most is that house prices continue to rise annually, showing the sector’s long-term strength. The Budget didn’t offer the boost many hoped for, but 2025 has already delivered a consistent performance that sets a strong foundation for continued progress in 2026.”

Director of Benham and Reeves, Marc von Grundherr, added, “Whilst house prices were unchanged in November, this was largely expected given the hesitation ahead of the Autumn Budget, and whilst it was a largely disappointing affair, the market can now move forward with confidence.

Most importantly, the annual picture is one of continued growth, which tells the real story of 2025 – a market that has held firm despite all that’s been thrown at it.”