Britain’s housing market proved “surprisingly resilient” last year as house prices rose almost 5 per cent, although they still remain lower than the highs set before Liz Truss’s 2022 mini-budget.
The average price of a house in the UK increased by 0.7 per cent in December to £269,426, according to Nationwide, one of the country’s largest mortgage lenders.
The end of 2024 was much stronger than the 0.1 per cent increase that economists had forecast and property prices have now risen in each of the past four months.
• What to expect from the UK housing market in 2025
Over the past year as a whole, house prices went up by 4.7 per cent on average, which is the strongest rate of annual price inflation