According to the most recent Nationwide House Price Index, there has been a notable increase in average house prices, which rose by 2.4% compared to last year.
This annual growth in house prices has accelerated at the fastest pace since December 2022, as indicated by the latest data from Nationwide.
In August, average prices experienced a year-on-year increase of 2.4%, a rise from the 2.1% recorded in July. However, it is important to note that these prices remain approximately 3% lower than the peak levels observed in the summer of 2022.
Additionally, the Nationwide House Price Index reveals that homebuyers are increasingly willing to pay a premium for properties that boast higher energy performance ratings. This trend underscores the growing importance of energy efficiency in the housing market.