UK house prices saw a significant increase in November, surpassing economists' expectations. The average home price rose by 1.2%, reaching £268,144 ($340,000), which is higher than the previous month's 0.1% rise.
The upward trend in property values can be attributed to the ongoing strength in the jobs market and rising wages, which have bolstered buyer interest. Year-on-year, house prices are now 3.7% higher, indicating a resilient housing market despite economic fluctuations.