Nationwide reports rise in UK house prices by 5% year on year

LONDON (UK) – Mortgage lender Nationwide said on Wednesday that British house prices rose 5% annually in September. This was the highest level since September 2016 and it was a hopeful sign of a sharp rebound in the country’s housing market following the coronavirus lockdown.

Prices rose by 0.9% from August when compared to a median forecast of a 0.5% month-on-month increase, in a poll of economists.

Nationwide said prices were 5% higher than a year earlier. The poll had indicated a 4.5% annual increase.

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