The average UK house price rose by nearly £24,000 during 2021, the biggest increase ever recorded in a single year in cash terms, according to an index. The typical price of a home reached a record high of £254,822 in December, marking a £23,902  increase over the past year, Nationwide Building Society said. Chief economist Robert Gardner said: “The price of a typical UK home is now at a record high of £254,822, up £23,902 over the year—the largest rise we’ve seen in a single year in cash terms. “Prices are now 16 percent higher than before the pandemic struck in early 2020.” Nationwide said house prices were 10.4 percent higher annually and 1.0 percent higher month on month in December. Looking at what has been behind the price increases, Mr Gardner said demand for homes has remained strong despite the ending of the stamp duty holiday this year. He …