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House price rise 'slows down during December'
The pace of property price rises in the UK slowed during December, according to new figures from the Royal Institution of Chartered Surveyors (Rics).
It has been revealed that 30 per cent more chartered surveyors reported a rise than a fall in house prices during the month, which represented a five per cent decline from November.
Prices appear to be still rising in London and other parts of the south, while the north and Midlands seems to be experiencing more falls.
In addition, in news which may interest those seeking homeowner loans, demand for property appears to be outstripping new supply.
Jeremy Leaf, spokesperson for Rics, said the loss of momentum in prices could be due to the housing marketing "pulling down its shutters for Christmas".
He added: "It is likely that the new year will see more interest and activity in the market as those who held back start to market their property with renewed optimism."
At the end of last month, the British Bankers' Association revealed that mortgage lending reached a two-year high during November.