{"id":18248,"date":"2024-12-02T08:23:47","date_gmt":"2024-12-02T08:23:47","guid":{"rendered":"https:\/\/news.godj.com\/news\/surprising-pick-up-in-house-price-growth-says-nationwide\/"},"modified":"2024-12-02T08:23:48","modified_gmt":"2024-12-02T08:23:48","slug":"surprising-pick-up-in-house-price-growth-says-nationwide","status":"publish","type":"post","link":"https:\/\/news.godj.com\/news\/surprising-pick-up-in-house-price-growth-says-nationwide\/","title":{"rendered":"‘Surprising’ pick-up in house price growth, says Nationwide"},"content":{"rendered":"


\n<\/p>\n

\n
\n
\n
\n
\"GettyGetty Images<\/span><\/div>\n<\/div>\n<\/figure>\n
\n

House prices grew at their fastest annual pace for two years last month, according to the latest survey from Nationwide.<\/p>\n

The lender said the price of a typical UK home rose by 3.7% in November from a year earlier, with property values close to a record high.<\/p>\n

It said the acceleration in house price growth was “surprising, since affordability remains stretched by historic standards”.<\/p>\n

However, it noted that the housing market had remained “relatively resilient” in recent months, with the number of mortgages approved at near pre-pandemic levels.<\/p>\n<\/div>\n

\n

House prices rose by 1.2% between October and November, Nationwide said, the biggest month-on-month increase since March 2022.<\/p>\n

The average property now costs \u00a3268,144, according to the building society.<\/p>\n

The number of mortgage approvals last month hit the highest level since August 2022, according to Bank of England figures released last week.<\/p>\n

Nationwide chief economist Robert Gardner said low levels of unemployment combined with pay increases that were outstripping inflation had helped to “underpin” the housing market.<\/p>\n<\/div>\n<\/article>\n