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Mortgages -
New survey: House price inflation slowing - 15/01/2008
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House price inflation is slowing, the department for communities and local government (DCLG) said yesterday.
According to the body's latest research, house prices rose 9.5 per cent over the year - ago figure in November.
While this might initially seem a healthy reading for a growing market, it compares poorly with October's increase of 11.3 per cent.
What's more, the average home price was also down to £218,330, from October's figure of £220,195.
Commenting on the figures to news agency Reuters, analyst at Global Insight Howard Archer said: "The data strongly reinforce the overall evidence that the housing market lost significant momentum in the latter months of 2007."
DCLG's report for November has been released only now as it relies on sale completions rather than purchases themselves.
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