House prices fluctuations are becoming a yo-yo affair | Money | guardian.co.uk

House prices fluctuations are becoming a yo-yo affair | Money | guardian.co.uk

House prices rose month on month in December according to the Nationwide Building Society, confounding housing market experts who have predicted a gradual decline in house prices over the next 12 months and dismaying first-time buyers who are priced out of the market.

The price for a typical UK property rose by 0.4% in December compared to November, following declining prices in the previous two months. Although showing a decline in prices, the three month on three month rate of change – which smooths out blips in the index and is generally a better indicator of recent trends – also strengthened slightly from -1.3% in November to -1% in December.