December’s better-than-expected 0.7% m/m increase in Nationwide house prices means that prices continued to gather momentum at the end of last year despite the rise in mortgage rates, rising by a healthy 1.6% q/q in Q4 overall. And while the recent rises in swap rates suggest mortgage rates will rise further over the coming months, we are still more optimistic than most on the outlook for house price growth in 2025.
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