Nationwide announces November house price rise

Money News

www.moneynews.co.uk > Nationwide > Nationwide announces November house price rise

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Nationwide announces November house price rise

November has seen an increase in house prices of 1.4 per cent – the highest level since February 2005 – says Nationwide Building Society.

This month's rise is almost double that seen in October (0.8 per cent) and some experts are now predicting that the Bank of England's base rate may have to increase by another quarter point so that the housing market will begin to cool.

In the short-term, Nationwide predicted that house prices will continue to rise, pointing towards the fact that home loan approvals had reached a three-year peak during October.

Commenting on the new research, Fionnuala Earley, Nationwide's group economist, stated: "As a result [of the house price rise], the annual rate of growth rose to 9.6 per cent, up from eight per cent last month.

"This is the highest rate of annual house price growth since February 2005 and means that house prices are £15,046 higher than 12 months ago, the equivalent of a £41 rise per day. This brings the price of a typical house up to £172,185."

Nationwide is the fourth largest mortgage lender in the UK as well as the second largest savings provider.

Related News : Nationwide

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet