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(Sharecast News) - House price growth continued at a brisk pace in November, buoyed by "robust" conditions in the labour market, but the multiple headwinds the sector was facing meant that the outlook was uncertain.
The annual rate of growth in Nationwide's House Prince Index picked up in November by one tenth of a percentage point versus the prior month to reach 10.0%.
Month-on-month meanwhile, prices were ahead by 0.9% in seasonally adjusted terms, roughly doubling the consensus forecast, while the average price of a home rose to £252,687 in non-seasonally adjusted terms, against £250,311 in October.
According to Robert Gardner, the mortgage lender's chief economist, underlying activity was "holding up well" with the number of mortgage approvals still above their 2019 monthly average and conditions in the jobs market were "robust", despite the end of furlough in the case of the latter.
"But the outlook remains uncertain, where a number of factors suggest the pace of activity may slow," Gardner added.
"It is unclear what impact the new 'Omicron' variant will have on the wider economy. While consumer confidence stabilised in November, sentiment remains well below the levels seen during the summer, partly as a result of a sharp increase in the cost of living. Moreover, inflation is set to rise further, probably towards 5% in the coming quarters."
The economist also pointed out the potential cooling effect that rising interest rates could have and the "less favourable" housing affordability in comparison to before the pandemic.
Last June, annual house price growth had reached 13.4%.
20 Jun 2024 15:33
UK dividends calendar - next 7 days
| Friday 21 June | |
| abrdn Asia Focus PLC | dividend payment date |
| Advanced Medical Solutions Group PLC | dividend payment date |
| Andrews Sykes Group PLC | dividend payment date |
| Avingtrans PLC | dividend payment date |
| Cerillion PLC | dividend payment date |
| Downing Strategic Micro-Cap Investment Trust PLC | special dividend payment date |
| Fevertree Drinks PLC | dividend payment date |
| HSBC Holdings PLC | dividend payment date |
| HSBC Holdings PLC | special dividend payment date |
| Intertek Group PLC | dividend payment date |
| Keystone Law Group PLC | dividend payment date |
| LMS Capital PLC | dividend payment date |
| Origin Enterprises PLC | dividend payment date |
| PageGroup PLC | dividend payment date |
| Riverstone Credit Opportunities Income PLC | dividend payment date |
| Robinson PLC | dividend payment date |
| Spire Healthcare Group PLC | dividend payment date |
| TI Fluid Systems PLC | dividend payment date |
| Tritax EuroBox PLC EUR | dividend payment date |
| Tritax EuroBox PLC GBP | dividend payment date |
| Vaalco Energy Inc | dividend payment date |
| Monday 24 June | |
| Aberforth Split Level Income Trust PLC | dividend payment date |
| Bluefield Solar Income Fund Ltd | dividend payment date |
| Coca-Cola HBC AG | dividend payment date |
| Gemfields Group Ltd | dividend payment date |
| Jersey Electricity PLC | dividend payment date |
| M&C Saatchi PLC | dividend payment date |
| Manx Financial Group PLC | dividend payment date |
| Niox Group PLC | dividend payment date |
| Shell PLC | dividend payment date |
| Weiss Korea Opportunity Fund Ltd | dividend payment date |
| Tuesday 25 June | |
| Kingfisher PLC | dividend payment date |
| Wednesday 26 June | |
| CRH PLC | dividend payment date |
| Tharisa PLC | dividend payment date |
| Thursday 27 June | |
| abrdn Equity Income Trust PLC | dividend payment date |
| Alfa Financial Software Holdings PLC | dividend payment date |
| B&M European Value Retail SA | ex-dividend payment date |
| Berkeley Group Holdings PLC | ex-dividend payment date |
| BlackRock Smaller Cos Trust PLC | dividend payment date |
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