Nationwide's November survey shows a 0.4% monthly rise, but one housing expert says the data 'is as misleading as it gets'
The housing market has remained "surprisingly resilient" in November, Nationwide said, as average house prices increased by 0.4% month-on-month.
The price of a typical home has risen to £165,798, 1.6% higher than a year ago, Nationwide said, following a 0.8% year-on-year increase in October.
The figures come shortly after the government revealed proposals to underwrite mortgages for first-time buyers as part of efforts to "unstick" the housing market.
But Robert Gardner, Nationwide's chief economist, warned that the slow growth forecast for the next couple of years is likely to weigh on the market. "House prices have remained surprisingly resilient in recent months, despite the deterioration in the economic outlook.
