Property prices have increased for the second month in a row, according to new figures.

Property prices have increased for the second month in a row, according to new figures.

This month, the average house price is 0.8 per cent higher than it was in October, which had experienced a 0.5 per cent rise, according to Rightmove.

These two consecutive monthly price rises follow three months in which house prices fell.

November's average asking price now stands at £197,855 – up from last month's £196,348.

"The property market's key foundation has returned: confidence is back, leaving pessimists out in the cold," said Miles Shipside, commercial director at Rightmove.

"The combination of sustainable prices and a fall in interest rates has raised buyers' and sellers' confidence to strike a deal."

Most significant was the rise in annual inflation between this month and last month, which saw a 2.5 per cent rise to four per cent.