Published On Dec 2, 2024, 2:44 AM
Nationwide reports that house prices in the UK rose by 3.7% year-on-year in November, marking the fastest growth in two years. The increase is notable given the challenges of affordability and high mortgage costs that persist. There was also a 1.2% month-on-month rise from October, indicating a relatively resilient housing market with mortgage approvals nearing pre-pandemic levels.
Positive
The increase in house prices suggests that the housing market may be more resilient than anticipated, even in the face of rising interest rates and affordability challenges. Investors may find opportunities in real estate investment trusts (REITs) that focus on residential properties, as they could benefit from increasing property values and rental income.
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