House prices rising at fastest rate in three years, says Nationwide

The prices of UK houses and flats have increased in November by 0.6% and are 6.5% higher than the same period of 2012 according to recent figures from the Nationwide Building Society.

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“Prices are still around 6% below the all-time high recorded in late 2007,” said Robert Gardner, Nationwide's chief economist”. He said there had been a flurry of activity in the past few months and “the number of mortgage approvals reached 66,735 in September, over a third higher than a year ago. “Improvement can be attributed to further developments in the labour market and the brighter economic outlook, which has helped to bolster sentiment”.

According to James Mulhall, Associate JHWalter, “The latest house price figures from Nationwide indicates a growing confidence in the marketplace and we hope it continues into 2014 across our Residential, Commercial and Auction sectors.”