© Reuters. FILE PHOTO: High-rise apartments under construction can be seen in the distance behind a row of residential housing in south London, Britain, August 6, 2021. REUTERS/Henry Nicholls
LONDON (Reuters) – British house prices in March marked their strongest pace of growth since 2004, data from mortgage lender Nationwide showed on Thursday.
House prices increased by 1.1% month-on-month in March, Nationwide said. Prices were 14.3% higher than their level a year ago, compared with a median forecast of a 13.5% rise according to a Reuters poll of economists.
“The housing market has retained a surprising amount of momentum given the mounting pressure on household budgets and the steady rise in borrowing costs,” Robert Gardner, Nationwide’s Chief Economist, said in a statement.
UK house price growth at strongest pace since 2004 in March – Nationwide
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