Strong property price growth in London is propping up UK national house prices but elsewhere prices have fallen considerably.
The latest monthly data from Rightmove shows that nationally property prices are up by 2% year on year, the highest annual rate of increase seen in the month of November since 2007.
Even with the effect of prices rising faster in London removed from the picture, prices are still up 0.2% year on year and this means that the market is going into 2013 on a positive note, the firm said.
But the figures do mask considerable price drops in many parts of the country. The North West saw prices fall by 5.7% in November compared to October and on an annual basis prices are down 0.5%.
In the South East prices are down 4.5% on a monthly basis and down 3.4% year on year while in the North East prices are down 4.2% month on month but up 1.3% on an annual basis.
Elsewhere in the country on a monthly basis prices are down 3.8% in the South West, down 3.7% in the West Midlands, down 4.2% in the North East, down 3.1% in the East Midlands, down 3.1% in Wales, down 2% in East Anglia.
But on an annual basis prices in the South West are up 2.9%, in the West Midlands they are down 0.3%, in the North East they are up 1.3%, in the East Midlands they are up 0.1%, in Wales they are down 1.2%, in East Anglia they are up 6.5%.
In London the borough of Brent has seen the highest monthly price rise at 7.3% followed by Wandsworth at 4.6%, Kingston upon Thames at 3.7%, Camden at 3.6% and Hammersmith at 3.1%.
The poorest performing London boroughs were Newham with a monthly price fall of 3.5%, Barking and Dagenham also down 3.5%, Havering down 1.6%, Redbridge down 1.5% and Croydon down 1.4%.
This article is copyrighted by Property Wire - Premier global property news service