Mubasher: The UK’s house prices rose in November at a slighter pace but came above analysts’ forecasts.

Prices increased by 5.1% annually in November, down from a 5.4% rise in the previous month, according to the Office for National Statistics’ (ONS) data on Tuesday

Economists had expected a growth of 4.2% in December.

Annual house prices in the UK has been slowing since mid-2016, but remained relatively high around 5%.

Data also showed that prices inched up 0.1% month-on-month in November.

Meanwhile, Average house price reached GBP 226,070 during the month.

By 11:00 am GMT, the GBP/USD pair dropped 0.31% to $1.3749 after a bunch of economic data.