UK Home Prices Rise by Most Since March 2022, Lender Says
- Average 1.2% price in November far exceeded expectations
- Wage gains helping to support buyer interest, Nationwide says
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UK house prices rose by the most since March 2022, according to one of the country’s largest mortgage lenders, as rising real incomes and historically low unemployment continued to support buyers’ return to the market.
Nationwide Building Society said the average home price rose 1.2% to £268,144 ($340,000) in November, accelerating from last month’s 0.1% rise. Economists were expecting a 0.2% increase. It left prices 3.7% higher than a year ago.