United Kingdom Housing November 2021

United Kingdom

United Kingdom: Housing market remains buoyant in November

December 1, 2021

According to the Nationwide Building Society, house prices in the United Kingdom rose 0.9% month-on-month in November, following October’s 0.7% rise. On an annual basis, house price growth was 10.0%, above October’s 9.9% increase. House prices in November likely continued to be buoyed by tight home supply, low interest rates and changes in housing preferences due to the pandemic, which more than offset the end of the stamp duty holiday on home purchases.

Going forward, tight supply and changing housing preferences could continue to support demand, although reduced housing affordability, potentially higher interest rates and the Omicron variant threaten to take some steam out of the market next year.

Author:, Economist

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United Kingdom Housing Chart

United Kingdom Housing November 2021

Note: Average price of a typical property in the UK and seasonally-adjusted month-on-month variation in %.
Source: Nationwide Building Society (NBS).

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