The biggest mortgage lender in the UK, which is a division of the Lloyds Banking Group, reported that home values had increased 1.3% from October for the fifth consecutive month.
Last month, the average home price surpassed a peak of £293,999 in October to reach a new record high of £298,083.
For the past two years, home prices have grown at the fastest rate on an annual basis.
Halifax reported that, after growing by 4% in October, home prices rose by 4.8% in November when compared to the same month last year. Echoing the Nationwide, a rival lender, earlier in the week, that was the strongest yearly growth in two years.
This is a reflection of both buyer desire and the market’s relative weakness one year prior.
