• Swindon & Wiltshire Economy
• Friday December 1 2023
• Author Name: Peter Davison

House prices rise for third month in a row – Nationwide

House prices in the UK crept up by 0.2 per cent in November – the third monthly increase in a row – according to the latest figures from Swindon-headquartered mortgage lender Nationwide.

The Nationwide House Price Index says that on an annual basis prices fell by two per cent – an improvement on October’s 3.3 per cent annual decline.

The average price of a house in the UK now stands at £258,557, a shade down on £259,423 at the same time last year.

Robert Gardner, head economist at the building society, said: “UK house prices rose by 0.2per cent in November, after taking account of seasonal effects.

“This was the third successive monthly increase and resulted in an improvement in the annual rate of house price growth from -3.3 per cent in October, to -2.0 per cent.

“While this remains weak, it is the strongest outturn for nine months.”

Earlier this week the Bank of England said there had been a leap in mortgage approvals in October.