UK house prices jump despite impact of Middle East conflict

House price growth in the UK has surprised estate agents and economists by jumping in April at the fastest annual pace in 11 months, according to Nationwide . The UK’s biggest building society said its mortgage data showed that house prices unexpectedly rose by 3% in April on a year earlier, from 2.2% in March, leaving the typical UK property worth £278,880. House prices also rose for the fourth consecutive month, increasing by 0.4% in April after a 0.9% increase in March. City economists had been expecting a 0.3% monthly fall. Robert Gardner, Nationwide’s chief economist, said: “Despite the uncertainty caused by developments in the Middle East and the subsequent rise in energy prices, the UK housing market has continued to regain momentum following the slowdown recorded around the turn of the year.” On a three-month basis, which irons out some of the monthly volatility, prices rose to 1.2% from 0.7% in the previous quarter, the highest growth seen since February 2025. Nationwide is the second-biggest mortgage provider in the UK and its monthly updates on house price growth, which are based on its own mortgage data, are one of the most closely watched gauges of how the housing market is faring. Gardner said the house price rises were “somewhat surprising” given that indicators of consumer confidence had “weakened noticeably”. …