House prices have risen at their fastest pace in four years as the market continues to defy the downturn in the economy.

Values increased by 5% in the year to September, according to the Nationwide house price index.

This was the sharpest rise since September 2016 and larger than the 4.5% increase pencilled in by economists.

Nationwide said that 10% of the people it surveyed were moving as a result of the pandemic, rising to 15% in London.