UK house prices in 2021 show fastest growth rate in 15 years

UK house prices rose by more than 10% in 2021, the fastest growth rate in 15 years, according to new figures that underline the strength of the pandemic housing boom.

The price of an average UK home hit a record high of £254,822 in December, up nearly £24,000 over the year, according to data published on Thursday by Nationwide, the UK’s largest building society.

Prices are now 16% higher than before the pandemic struck in early 2020, an outcome few economists anticipated as the UK’s nations were embarking on the first in a series of lockdowns.

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