House prices increased by 0.4% in November according to the latest Nationwide House Price Index.
The price of a typical home in October is now 1.6% higher than one year ago.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said:
"UK house prices increased by 0.4% in November, taking the annual rate of growth to 1.6%, up from 0.8% the previous month. The price of a typical home is now £165,798.
"House prices have remained surprisingly resilient in recent months, despite the deterioration in the economic outlook. But, with the UK economic recovery expected to remain sluggish well into 2012, house price growth is likely to remain soft, with prices moving sideways or drifting modestly lower over the next twelve months."
Taking these comments on board and the evidence of movements in the property market, of a few percent up or down, buying property, providing you have good quality advice, must look an attractive proposition compared to the volatility of the markets or the poor returns offered by the banks at the moment.
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