ONS: House prices fell at fastest rate since 2011 in November

The latest data from the Office for National Statistics showed property prices continued to drop at the end of 2023 but has the market turned a corner?

house prices
(Image credit: Getty Images)

House prices declined for the fifth consecutive month in November 2023 and at their fastest rate since 2011, the latest Office for National Statistics data shows.

High mortgage rates and the cost of living crisis weighed on buyer budgets and hit the housing market for much of last year.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.