November UK House Prices

'Surprisingly Resilient', says the Nationwide.

The Nationwide has said that UK house prices have remained "surprisingly resilient" with values rising again in November.

The average home rose in value by 0.4% in November to £165,798 in November and was a 1.6% year-on-year increase.

Also, The Bank of England said there were 52,743 approvals in October, up from 51,193 in September and was the highest monthly total since December 2009.

Howard Archer at IHS Global Insight said: "A pick up in mortgage approvals in October and firmer house prices in November is highly unlikely to herald a significant, sustainable upturn in the housing market's fortunes given largely unfavourable economic fundamentals."