UK house prices rise greater than the forecast 0.9% last month

Demand rising: An estate agent’s ‘for sale’ board stands outside a residential building in London. UK house prices rose more than expected in November as activity held up despite the end of a tax relief for homebuyers. ― AFP

HOUSE prices in the United Kingdom rose more than expected in November as activity held up despite the end of a tax relief for homebuyers, Nationwide Building Society said on Wednesday.

The average price of a home increased 0.9% to £252,687 (RM1.42mil), according to the mortgage lender. Economists had expected a gain of 0.4% and the pace outstripped even the most optimistic forecast of 0.5%. The annual rate of growth climbed to 10%.