House prices in UK edge up slightly in October

House prices in UK edge up slightly in October
30/10/2019 , by , in INTERNATIONAL

British house prices, which have almost flat-lined ahead of Brexit, grew a bit more quickly in October, a survey from mortgage lender Nationwide showed.

House prices rose by 0.4% on the year, Nationwide said on Tuesday, the 11th month in a row that annual price growth remained below 1%.

A poll of economists had pointed to another rise of 0.2%, which would have matched September’s eight-month low.

Nationwide’s chief economist Robert Gardner said average prices rose by 800 pounds ($1,029) over the last 12 months, a sharp slowing compared with the 12 months to October 2016, just after the Brexit referendum, when prices jumped by 9,100 pounds.

Some measures of the housing market have shown prices falling recently in London and neighbouring areas.

Nationwide said in October alone, British house prices rose by 0.2%, also slightly stronger than forecasts of no change in the poll.

 

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