Economic Buzz: UK House Prices Rise At Fastest Pace In Nearly Six Years

Economic Buzz: UK House Prices Rise At Fastest Pace In Nearly Six Years

Dec 01, 2020 09:12 IST capital market

UK house prices rose the most in nearly six years in November, the Nationwide Building Society said Tuesday, citing results of the monthly house price survey. The house price index jumped 6.5% year-on-year, marking the fastest pace of increase since January 2015. House price inflation was 5.8 percent in October. Compared to the previous month, house prices rose a seasonally adjusted 0.9% in November after a 0.8% increase in October. In October, property transactions rose to 105,600, the highest level since 2016, while mortgage approvals for house purchase also hit their highest level since 2007.

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