The values of mortgages in the UK are likely to have crept up across November, judging by newly-released statistics.
According to the latest Nationwide House Price Index, the cost of dwellings rose by 0.4 per cent throughout the month, with the typical price of an abode now standing 1.6 per cent greater than it did one year ago.
The study revealed this annual change was markedly up on the 0.8 per cent recorded in October 2011.
Robert Gardner, chief economist at Nationwide – which is run on a daily basis by a senior management team but overseen by an elected Board of Directors – indicated however that mortgage values may be set to dip slightly in the year ahead.
The industry figure observed: “With the UK economic recovery expected to remain sluggish well into 2012, house price growth is likely to remain soft, with prices moving sideways or drifting modestly lower.”
He added consumer confidence remains depressed at present having hit a new all-time low in October, which can affect the likelihood that people will be looking to take out a mortgage in order to purchase a property .
