Housing market refusing to cool - Nationwide

The building society says the average house price increased by 1.4% in November up from 0.8% in October and taking the annual rate of house price inflation to 9.6%. The average house price now stands at £172,185 up from £169.623 in October. In what appear to be the first signs of growing concerns about the sustainability of the current market the lender says affordability “must eventually bite” and suggests this: “limits the prospects for rapid nominal house price gains to continue far into the future.” Added to this, says the Nationwide, are issues surrounding consumer expectations and w...