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House prices index hints at revival
Evening Standard
|December 01, 2023
HOPES rose today that the moribund housing market is coming back to life, defying fears of a crash in prices after the long run of interest rate hikes which sent mortgage costs soaring.
A closely watched price index from Nationwide, one of the country's biggest home loan lenders, rose for the third month in a row in November. It was up by 0.2% from the previous month, taking the average UK house price to £258,557. In London, it is around double that, although detailed regional numbers are not due out until the end of the year.
The news confirmed a trend moving away from a month-on-month fall in prices, amid deeper confidence that the Bank of England has taken interest rates to their peak at 5.25% via 14 consecutive rises that ended in August.
Diese Geschichte stammt aus der December 01, 2023-Ausgabe von Evening Standard.
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