The storm before the calm: Annual house price growth hits highest rate in 5 years, says Nationwide

This morning's data and analysis from Nationwide has revealed that annual house price growth rose to 6.5% in November, the highest rate since Jan 2015 - with prices up 0.9% month-on-month, after taking account of seasonal factors. (Please click or tap the picture to find out more)

Robert Gardner, Nationwide's Chief Economist, explains: "Data suggests that the economic recovery had lost momentum even before the latest lockdown came into effect. Economic growth slowed sharply from 6.3% in the month of July to 2.2% in August and 1.1% in September, even though the economy was still around 8% smaller than its pre-pandemic level at that point. Rising infection rates and tighter social restrictions will have resulted in a further hit to growth in October and November.

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Source: Property Reporter

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