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business12h ago
UK house prices rise despite budget tax fears, says Nationwide
- Nationwide reports UK house prices rose 0.3% in November, with the average price at £272,998.
- The chancellor announced a high-value council tax surcharge starting in 2028 for homes over £2m.
- Nationwide says the mansion tax is unlikely to have a significant impact on the market.
- Economists anticipated a modest rise; Nationwide cited resilience amid subdued consumer confidence.
- Bank of England kept interest rates at 4%, with inflation near its peak in recent forecasts.
- Mortgage lenders remained keen to lend, keeping funds available despite softer activity.
- Investors and buyers watch how budget changes will shape the market into 2026.
- Nationwide noted four price bands in the new surcharge system and its narrow reach.
- Rightmove and other agencies have tracked price movements amid budget speculation.
- Experts cited a stable market with cautious optimism for 2026 amid policy changes.
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