UK House Prices Surge with Fastest Growth in Two Years
House prices in the UK rose at their fastest annual pace in two years as of November, driven by low unemployment and rising wages. Nationwide reported a 3.7% increase from the previous year, with average property costs nearing a record high. The number of mortgage approvals also reached levels not seen since August 2022. Despite concerns about affordability, the market appears resilient, although changes to stamp duty could influence future activity.