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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/house-prices-suffer-november-fall.jpg"><img class="alignnone size-full" title="House prices fell by 0.1 per cent in November, Halifax said" src="http://londonglossy.com/wp-content/uploads/2010/12/min-house-prices-suffer-november-fall.jpg" alt="House prices fell by 0.1 per cent in November, Halifax said"/></a></p>
<p>House prices fell by 0.1% in November but there are hopes the market may be stabilising, Halifax has said.</p>
<p>Property prices in the three months to November were 0.7% lower than a year earlier, which was their first annual decline since November 2009.</p>
<p>However, Halifax said there were signs homeowners were becoming more reluctant to put properties on the market, which would help slow the recent quarterly falls in house prices.</p>
<p>The month-on-month decline in November took the average house price to £164,708 and followed a record 3.7% fall in September and a 1.8% increase in October.</p>
<p>Halifax said the varied monthly pattern is consistent with a relatively flat underlying trend for house prices.</p>
<p>The quarter-on-quarter figures are generally seen as smoother indicator of the market because they strip out some of the monthly fluctuations.</p>
<p>Prices in the three months to November were 2.1% lower than the preceding three months.</p>
<p>Last month, Halifax reported that prices showed a 1.2% quarter-on-quarter decline, the biggest fall since June 2009. But Halifax pointed out that the quarterly declines were well below the declines of 5% to 6% in the second half of 2008.</p>
<p>It does not expect to see a significant fall in prices and believes interest rates will remain low for an extended period, which will help mortgage availability.</p>
<p>There has been great volatility in the housing market in recent months as a smaller-than-normal number of properties for sale leads to big monthly fluctuations in prices.</p>
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