Overview
- Average UK house price rose 0.3% on the month to £272,998, with annual growth easing to 1.8% from 2.4% in October.
- The monthly rise exceeded the 0.1% increase forecast by economists polled by Reuters.
- Nationwide said the ‘mansion tax’ from April 2028 will apply to less than 1% of properties in England and about 3% in London, implying limited market impact.
- The Bank of England kept rates at 4% after an August cut, and analysts expect further reductions that could lower mortgage rates and support demand.
- Nationwide warned higher taxes on rental income could discourage new rental supply, keeping upward pressure on rents.