Robert Gardner Britain COST UPS Robert Gardner Britain

UK house prices rising at 11% a year despite cost of living crisis

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The UK housing market remained buoyant in July with price growth accelerating to an annual rate of 11%, according to the country’s biggest building society.The average price of a home was £271,209 last month, up 0.1% from June when taking account of seasonal effects, and the 12th monthly rise in a row, said Nationwide building society.

This took the annual change to 11% from 10.7%.The market has been surprisingly strong throughout the Covid pandemic and despite the worsening cost of living crisis.

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