British house prices rose by more than expected in November

British house prices rose by more than expected in November and for the fifth month in a row, mortgage lender Halifax said on Thursday.

House prices rose 0.5 percent month-on-month after a 0.3 percent rise in October, Halifax said, topping the consensus in a Reuters poll of economists for a 0.2 percent rise.

But house price growth slowed on an annual basis to 3.9 percent in the three months to November, following a 4.5 percent rise in October.

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

Other data suggest the housing market is slowing. Nationwide, a different mortgage lender has reported a weaker pace of house price growth recently and the Bank of England has said mortgage approvals have fallen to a more than 1-year low.

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