UK house prices surge unexpectedly

UK house prices surge unexpectedly
09/11/2016 , by , in INTERNATIONAL

British house prices surged unexpectedly in October, countering signs of a broad slowdown in the housing market over the last six months, a survey from mortgage lender Halifax showed.

House prices shot up 1.4% in October compared with an upwardly revised 0.3% increase in September.

“With .. the economy currently resilient, house prices may well rise modestly in the near term,” said Howard Archer, chief European and UK economist at IHS Markit.

“We believe housing market activity is likely to be increasingly pressurised in 2017 by heightened uncertainty constraining consumer confidence and willingness to engage in major transactions, as well as hampering economic activity.”

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