Commentary by Ruban Selvanayagam

• According to the latest UK House Price Index, average house prices saw an annual price rise of 7.6% (to November 2020);
• The latest Hometrack UK Cities House Price Index reported that Liverpool saw the greatest year-on-year house price growth at 6.3%.  This was followed by Manchester (6.0%), Nottingham (5.8%), and Leeds (also 5.8%);
• The most recent Royal Institute of Chartered Surveyors (RICS) report observed that indicators on enquiries, sales and instructions are still positive, although impetus has cooled recently; house price inflation remains elevated across most parts of the UK, with the exception of London and near term expectations suggest sales market momentum will fade further in the coming months.