UK house prices rose much more than expected in November and at the fastest pace in two years, helped by solid wage growth and declining mortgage rates, according to a lender.
The price of a typical UK home rose 3.7 per cent year on year in November, up from the 2.4 per cent recorded the previous month and marking the fastest rate of annual growth since November 2022, according to Nationwide.
House prices were up 1.2 per cent month on month, taking the average cost to ￡268,144 — just 1 per cent below the all-time peak in 2022.
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