UK residential property prices are up by 2% year on year, the highest annual rate of increase seen in the month of November since 2007, according to the latest monthly report from Rightmove.
Even with the effect of prices rising faster in London removed from the picture, prices are still up 0.2% year on year and this means that the market is going into 2013 on a positive note.
New home sellers in the UK dropped their asking prices by 2.6%, the least severe November fall for three years, the Rightmove data also shows. November 2010 saw price falls of 3.2% and the same month last year had price falls of 3.1%.
I am sure we heard the same this time last year, yet the property market in the UK continues to struggle.
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