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Halifax: UK annual house price growth falls for 1st time in 4 months

The annual rate of growth of U.K. house prices fell for the first time in four months in November, data from mortgage lender Halifax showed.

House prices increased by 3.9% year over year in November, down from 4.5% in October.

In monthly terms, house prices increased by 0.5%, up from 0.3% growth registered in the previous month.

Prices in the three months to November advanced by 2.4%, compared with 2.3% in the three months to October. The latest quarterly reading is the fourth consecutive quarterly increase.

The average house price was £226,821, up from the revised £225,664 in October.

"The imbalance between supply and demand continues to support house prices, which doesn't look like changing in the near future," said Russell Galley, Halifax Community Bank managing director.

"Further ahead, increasing affordability issues, as price increases continue to outstrip wage growth, are likely to curb housing demand and cause price growth to ease."