Rolling coverage of the latest economic and financial news
- UK house prices rose 0.9% in November, says Nationwide
- Prices 10% higher than a year ago
- But Omicron variant and inflation mean outlook is uncertain
- Markets rise after BioNTech reassurance over vaccines
UK house prices were lifted by a shortage of homes on the market, and the rush to fix mortgages before interest rates rise.
So says Lucy Pendleton, property expert at independent estate agents James Pendleton, who predicts December could be ‘unusually intense’:
“This market is still barreling along, even at a time of year that traditionally sees a little energy taken out of it.
“Fewer people choose to move home at Christmas and that normally means you see buyers drop the pace, with many holding off their search until after the New Year.