‘Surprising’ pick-up in home worth development, says Nationwide | EUROtoday

House costs grew at their quickest annual tempo for 2 years final month, in keeping with the newest survey from Nationwide.

The lender mentioned the value of a typical UK house rose by 3.7% in November from a yr earlier, with property values near a report excessive.

It mentioned the acceleration in home worth development was “surprising, since affordability remains stretched by historic standards”.

However, it famous that the housing market had remained “relatively resilient” in latest months, with the variety of mortgages accredited at close to pre-pandemic ranges.