According to the latest data released, the UK housing prices have recorded a fall of 2.6 per cent in November to 236,761 pounds from a month earlier.

The prices had fallen 3.2 per cent in the same month of the previous year and had gained 3.5 per cent gain in October, 2012, according to property website Rightmove. The prices have increased 2 per cent compared to the same month of 2011, recording highest annual rate of increase seen in November since 2007. The data indicates that the market might perform well even in the coming traditional winter slowdown and this might result in a better outlook for the coming year.

The company also said that search activity increased 20 per cent on the website, enquiries to real estate agents rose 11 per cent and the property availability fell in the lower pries housing market. The bank of England data has showed that the mortgage approvals have risen in the country.

Miles Shipside, Director and Housing market analyst at Rightmove said that, "Outside the capital, agents report prices are broadly flat in many parts of the country compared to a year ago. This stability may indicate a sounder springboard for 2013 as the wait goes on for a sustainable recovery in transaction numbers."