'Surprising' pick-up in house prices, says Nationwide

House prices grew at their fastest annual pace for two years last month, according to the latest survey from Nationwide. 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.

It said the acceleration in house price growth was "surprising, since affordability remains stretched by historic standards". 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. Nationwide said house prices had risen by 1.



2% between October and November, the biggest month-on-month increase since March 2022..