UK house prices rise more than expected in December

Data released by the Nationwide mortgage bank today showed that house prices in Britain rose by 1.0% in December, marking the largest increase in prices for a full year since 2006. Analysts had expected that house prices in Britain would rise by 0.5% in December. On an annual basis, house prices in Britain rose 10.4% in the twelve months to December compared to the same period last year, with the average home price hitting a record high of 254.822 pounds ($343.29620). Britain's housing market has rebounded strongly after the first coronavirus shutdown in 2020, buoyed by the tax exemption as well as continued demand for larger properties as more people work from home.