The house prices went down in November.The house prices went down in November.
The house prices went down in November.

Take a look at these properties on the market for the average house price of £285,000

The UK housing market has continued to slow as the average price has dropped again.

Statistics from the Halifax released that the average house price fell by -2.3 per cent in November vs -0.4 per cent in October with the typical UK property now costing £285,579 down from £292,406 in October.

The rate of annual growth slowed in all but one region (the North East) during November with a similar slowing trend in North Ireland, Scotland and Wales.

Kim Kinnaird, director at Halifax Mortgages, said: “While a market slowdown was expected given the known economic headwinds – and following such extensive house price inflation over the last few years (+19% since March 2020) – this month’s fall reflects the worst of the market volatility over recent months.

“Some potential home moves have been paused as homebuyers feel increased pressure on affordability and industry data continues to suggest that many buyers and sellers are taking stock while the market continues to stabilise.

“When thinking about the future for house prices, it is important to remember the context of the last few years, when we witnessed some of the biggest house price increases the market has ever seen. Property prices are up more than £12,000 compared to this time last year, and well above pre-pandemic levels (+£46,403 vs March 2020).

“The market may now be going through a process of normalisation. While some important factors like the limited supply of properties for sale will remain, the trajectory of mortgage rates, the robustness of household finances in the face of the rising cost of living, and how the economy – and more specifically the labour market – performs will be key in determining house prices changes in 2023.”

All these houses and flats are on sale on Zoopla at the moment for around the average house price of £285,579.