Prices fell 1.4 per cent from October, which was the largest month-on-month fall since June 2020.
And annual house price growth saw a “sharp slowdown”, the building society says, falling to 4.4 per cent now from 7.2 per cent in October.
Last month the government’s official forecaster – the Office for Budget Responsibility – predicted that house prices would drop 9.0 per cent over the next two years.