House prices fell at the slowest pace in a year over the past month but the pain for homeowners is far from over, experts said yesterday.
The value of an average property dropped by 0.4%, or £430, during November, according to figures from Nationwide, the UK's second-biggest mortgage lender.
That was the most modest decline since prices started falling in November last year, and eased the annual rate of decline to 13.9% compared with October's year-on-year drop of 14.6%.
However, analysts said that this did not signal the bottom of the market. Seema Shah, property economist at Capital Economics, said: 'We expect the sharper downward trend of recent months to reassert itself.'
The Times, The Independent