According to the report from Halifax Bank of Scotland, UK house prices in November were 2.1% higher than in the same month a year earlier. Economists had expected a 1.0% increase.

On a monthly basis, house prices rose by 1.0%. Economists had expected a 0.7% decrease.

In the latest quarter (September to November) house prices were 0.2% higher than in the preceding three months (June to August)

Russell Galley, Managing Director, Halifax, said: “Average house prices rebounded somewhat in November, with annual growth of 2.1% being driven by the biggest monthly rise since February, following two months of modest falls. Prices are now up by £3,904 since the start of the year. While a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties. It is these issues which we believe will continue to underpin the resilience evident in the market for most of 2019. Over the medium term we expect the emerging trend of modest gains to continue into next year.”