House prices rose more than expected in November, according to figures from mortgage lender Nationwide, suggesting next month's national election is not putting further pressure on a market that remains sluggish.
House prices climbed 0.8pc compared with November 2018, the strongest increase since April, Nationwide said. This confounded a Reuters poll of economists, which had pointed to a rise of just 0.2pc.
However, it was the 12th month in a row that annual price growth remained below 1pc, compared with gains of about 5pc at the time of the Brexit referendum in 2016.
In November alone, house prices increased by 0.5pc, compared with a median forecast in the poll for a 0.1pc rise.
Robert Gardner, Nationwide's chief economist, said Britain's housing market typically displayed little volatility at the time of elections. "Rightly or wrongly, for most home buyers, elections are not foremost in their minds while buying or selling their home."