National home values increased by 1% in November, marking the third consecutive month of growth according to Cotality's monthly property index. However, the pace of price rises has softened, partly due to the expected trajectory of interest rates.
Cotality highlights that while the property market remains resilient, the anticipation of rising borrowing costs is tempering the pace of price escalation.
"The cautious stance on interest rates is reducing some of the upward pressure on home prices," said a Cotality spokesperson.
The market shows ongoing growth but is moderated by concerns over future interest rates, signaling a more balanced property environment ahead.