U.K. house prices fell in November by the most in at least 12 years as banks rationed loans and financial turmoil made consumers wary of buying homes.

Average home values in England and Wales, based on transaction data, fell 12.2% from a year earlier, the most since records began in 1996, the Land Registry said Tuesday.

Prices slipped 1.9% from October, to $235,183.

Sales volume was 48,599 a month in the three months through September, down 61% from a year earlier, the report showed.

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