Nationwide predicts November rate rise

The lender says house prices increased by 1.3% in September up from 0.8% a month earlier, bringing the annual rate to 8.2% Nationwide says the average house price has risen from £167,721 last month to £169,413 now and predicts a further interest rate rise in November as a result. The price of a typical house is now almost £13,000 more than at this time last year and the equivalent of a rise of more than £35 per day over the last 12 months. Fionnuala Earley, group economist at Nationwide, says August’s interest rate hike did nothing to cool the rate of house price inflation with the annua...