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LONDON (Reuters) -British home costs rose at their quickest annual tempo in nearly two years in November, including to indicators of resilience within the property market regardless of excessive borrowing prices, official knowledge confirmed on Wednesday.
Common home costs rose by 3.3% within the 12 months to November – the quickest enhance since February 2023 – after a downwardly revised 3.0% enhance in October, the Workplace for Nationwide Statistics mentioned.
Non-public-sector rents in December have been 9.0% increased than a yr earlier, down from a rise of 9.1% in November.
Amongst England’s areas, common rents elevated probably the most in London, the place they rose by 11.5%.
Buyers added to bets on Financial institution of England rate of interest cuts in 2025 after a shock drop in inflation earlier on Wednesday.
