UK house prices rise at fastest pace in two years [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
Property values climbed by 3.7% in the year to November to £268,144, according to the Nationwide house price index. This marks the fastest rise since November 2022 when there was a 4.4% rise. In the month of November alone, house prices rose 1.2% compared to October, the largest monthly increase since March 2022. House prices are now just 1% below their all-time high recorded in the summer of 2022. Nationwide said recent changes to stamp duty would probably bring purchases forward early next year as buyers seek to avoid paying extra tax. "Housing market activity has remained relatively resilient in recent months, with the number of mortgage approvals approaching the levels seen pre- pandemic , despite the higher interest rate environment," said Nationwide chief economist Robert Gardner. Read more: Best UK mortgage deals of the week “The acceleration in house price growth is surprising, since affordability remains stretched by historic standards, with house prices still high
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