12/1/2021, 8:02 AM (Source: TeleTrader)
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UK annual house price growth at 10% in November

Annual house price growth in the United Kingdom came in at 10.0% in November, above market expectations, the Nationwide House Price Index said in its report revealed on Wednesday. On a monthly level, the figure went up by 0.9%, also surpassing analysts' predictions.

The monthly index went up by 0.9% in comparison to October. Meanwhile, the average house price in Britain stood at £252,687, up from £250,311 registered the month before.

"If this is maintained, housing market conditions may remain fairly buoyant in the coming months, especially since the market has momentum and there is scope for ongoing shifts in housing preferences, as a result of the pandemic, to continue to support activity," Robert Gardner, Nationwide's Chief Economist, stated. "But the outlook remains uncertain. [...] It is unclear what impact the new 'Omicron' variant will have on the wider economy."

Baha Breaking News (BBN) / JR