House prices rising 6% a year

6th December 2013

According to figures from Nationwide house prices are now rising at 6.5% a year, marking the fastest annual increase seen in three years.

The building society said that the average price of a house or flat in the UK is now £174,566. Prices have been rising every month for the last year and are up from 5.8% a month ago. The annual increase is the strongest since July 2010, but Nationwide said prices are still around 6% below an all-time high recorded in late 2007. However, on a monthly basis, prices increased slightly slower than in October, when figures rose by 1% in one month. Nationwide's chief economist, Robert Gardner, said activity in the housing market had been buoyed by improved confidence in the economy and government schemes to improve the availability of loans and keep costs low.

Source:  The Independent