UK annual house price growth up to 4.7% in December - Breaking The News
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UK annual house price growth up to 4.7% in December

Economy
Christian Baha / NP

1 min read

UNSPLASH / MARTYNA BOBER

The prices of houses in the United Kingdom saw an annual growth of 4.7% in December, according to the Nationwide House Price Index released on Thursday. The figure marks an increase from November when annual house price growth stood at 3.7%.

On a monthly basis, the index was up by 0.7% on a seasonally adjusted basis, while the average house price in the country in June stood at £269,426.

"UK house prices ended 2024 on a strong footing, up 4.7% compared with December 2023, though prices were still just below the all-time high recorded in summer 2022," Nationwide's chief economist, Robert Gardner, said. "Mortgage market activity and house prices proved surprisingly resilient in 2024 given the ongoing affordability challenges facing potential buyers," he added and noted volatility in the housing market is expected this year due to upcoming stamp duty changes

datahouse pricesnationwide house price index
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