The UK casing request showed signs of cooling in November, with Halifax reporting that periodic house price growth eased to 0.7%, marking the slowest rise since March 2024.
This follows October’s stronger 1.9% increase, though last time’s surprisingly strong growth continues to impact the monthly comparison.
Despite the recession, the average UK property price increased by £139 to a record £299,892, showing that the request is steady rather than declining.
Housing Market Steadies
The familiar North/ South peak in UK property prices remains apparent. London home values slipped 1%, pressing affordability pressures and conservative buyer demand, while the North West saw a stronger periodic rise of 3.2%, indicating regional variation in the casing request.
Amanda Bryden, head of mortgages at Halifax, noted that 2024 has been unexpectedly calm for the property request.
“Even with the changes to Stamp Duty back in spring and some uncertainty ahead of the Autumn Budget, property values have remained steady,” she said.
For buyers and merchandisers, it means the UK casing request is maintaining its footing despite rising mortgage rates, cost-of-living pressures, and broader profitability query. Property prices may be decelerating, but the request is far from unpredictable.
FTSE 100 Set for Steady Start
The FTSE 100, the UK’s leading blue-chip stock indicator, is anticipated to open astronomically unchanged moment, following a 0.2% rise to 9710.87, a history that ended a three-day losing streak.
Investors remain conservative amid mixed global signals and ongoing concerns over interest rates and inflation.
Overseas, US requests ended still, with the S&P 500 up 0.1%, the Nasdaq up 0.2%, and the Dow Jones slightly lower.
In Asia, Japan’s Nikkei 225 fell 1%, while Shanghai and Hong Kong indicators edged up around 0.5%, showing the global picture is mixed but not intimidating.
Commodities and Crypto
Goods were stable, with Brent Crude holding at $63.24 per barrel and gold rising slightly to $4226 an ounce. In cryptocurrency, Bitcoin traded around $92,060, holding steady amid wider price oscillations.
For UK investors, this paints a picture of a request that’s steady but vigilant, as blue-chip stocks, energy, and safe-haven means all maintain a conservative balance.
