30th December 2015
UK property prices made robust gains throughout December according to research from Nationwide.
The lender’s analysis shows that house prices rose 0.8% month-on-month in December, marking the largest increase since April.
But annual house price inflation climbed to a seven-month high of 4.5% in December after dipping to 3.7% in November from 3.9% in October.
Howard Archer, chief UK and European economist at IHS Global Insight however noted that the Nationwide’s house price measure has been weaker than most other reports.
He said: “At the top end, latest data from the Halifax show that house prices were up 9% year-on-year in the three months to November, which is still double the 4.5% rate for December reported by the Nationwide.
“The contrast between the Halifax and Nationwide data and the monthly volatility in the data highlight the importance of not pinning too much weight on one particular house price survey or measure, but to look at the overall picture.”
Elsewhere the Land Registry reported that house prices in England and Wales increased 0.4% month-on-month in November after increases of 0.1% in October, 0.6% in September and 0.5% in August.
This caused the year-on-year increase to rise to an 8-month high of 5.6%.