Annual price growth slowed to 9.0% and quarterly growth to 1.4%, down from 9.7% and 2.8% in October.
In November house prices fell by 0.2% from the month before’s 1% increase.
Jeremy Leaf, former RICS chairman and north London estate agent, said the index should be taken with a pinch of salt because it’s restricted to the actions of its customers.
He added: “There is evidence of easing house-price growth but one would expect the market to slow a little at this time of year. Much will depend on which part of the country you are in - the North London property market continues to be very busy, for example, a trend we expect to continue right up until Christmas.
“Any slowdown in the market may be a short-term blip anyway, as investors are already looking at what will be coming to market in the spring, in order so that they can complete by April to avoid the higher stamp duty take.”
Mark Harris, chief executive of mortgage broker SPF Private Clients, reckoned lenders are winding down lending for Christmas.
He said: “A number of lenders have hiked their mortgage rates in the past few days, perhaps with an eye to slowing down business over the festive period.
“However, this should be a short-term trend and we still expect them to price aggressively in the New Year in order to get off to a fast start.
“There may well be some January sales on the mortgage front for borrowers to take advantage of, boosting activity into the spring.”
