House prices grew at the fastest annual pace for two years in November, according to the latest survey from Nationwide. The lender said the price of a typical UK home rose by 3.7% last month compared to a year earlier, with property values close to a record high.

UK house prices rose by the most since March 2022, according to one of the country’s largest mortgage lenders, as a strong jobs market and wage gains continued to support buyers’ interest.

LONDON (Reuters) -British house prices rose in November at the fastest annual pace since November 2022, according to data from mortgage lender Nationwide on Monday that added to signs of resilience in the property sector despite higher borrowing costs.