House prices tick higher in November - Nationwide
By Abigail Townsend
Date: Tuesday 02 Dec 2025
(Sharecast News) - UK house prices continued to rise in November, industry data showed on Tuesday, although the pace of growth eased slightly.
According to Nationwide, house prices grew by 1.8% year-on-year, down on October's 2.4% spike but ahead of expectations for a 1.4% uplift.
Month-on-month, seasonally adjusted growth was 0.3%, also ahead of consensus, for 0%.
The average house price now stands at £272,998.
Robert Gardner, Nationwide's chief economist, said: "Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid, and house prices are close to all-time highs."
In last month's Budget, chancellor Rachel Reeves announced a council tax surcharge for properties valued at more than £2m.
However, Gardner said the so-called mansion tax was unlikely to have a "significant" impact on the housing market.
"The surcharge, which is not being introduced until April 2028, will apply to less than 1% of properties in England, and around 3% in London," he noted.
Looking forward, Nationwide said housing affordability was set to to improve "modestly", should income growth continue to outpace house price growth, as expected.
Said Gardner: "Borrowing costs are likely to moderate a little further, if Bank Rate is lowered again in the coming quarters.
"This should support buyer demand, especially since household balance sheets are strong."
Faced with persistently sticky inflation, the Bank of England has cut interest rates just three times this year, to 4%.
However, with the consumer price index finally falling, the central bank recently indicated that further cuts were feasible.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN