Resilient buyers fuel surge in UK house prices - with a nearby pub a big attraction

House prices rose at the fastest rate in nearly two years in November in a surprise acceleration, according to figures published yesterday by Nationwide.

- Jasper Jolly, Jack Simpson

The annual growth rate rebounded to 3.7% last month, up from 2.4% in October, according to the UK's biggest building society - the fastest increase since November 2022.

Meanwhile, a survey of homeowners by Zoopla found that 36% of Britons would not buy a house if it was too far from a pub, with 0.7 miles, or a 13-minute walk, seen as the ideal distance. Respondents said more than a mile would be too far.

The property website's survey, which polled more than 2,000 homeowners, found 24% said the proximity to a pub had influenced their decision to buy their property, with this rising to 54% for Gen Z purchasers.

The study found 36% of Britons said they had incorporated a trip to a nearby pub as part of their home-viewing process, visiting a drinking spot before or after viewing a property. Nearly one in five (18%) said they had made an offer for a home while drinking in a pub.