Annual house price growth in the UK has surged by 2.4% year-on-year, revealing an increase in property values and signaling a recovery in the housing market.
According to Nationwide's chief economist, UK house prices fell slightly month-on-month, but the annual growth rate has improved, with a significant increase from July’s figures.
Tom Bill from Knight Frank noted that the current housing market is healthier than last summer, attributing this improvement to controlled inflation and reduced mortgage rates.
Yopa's Verona Frankish mentioned that the recent data reflects the market's response to interest rate cuts, highlighting the first performance assessment since these reductions.
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