11/5/2021, 8:00 AM (Source: TeleTrader)
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UK house prices jump 8.1% in October

House prices in the United Kingdom increased by 8.1% in October compared to the same month in 2020, according to Halifax's monthly House Price Index report published on Friday. The figure came in above estimates.

On a monthly basis, housing prices in October rose 0.9%, reaching an average price of £270,027. Compared to the previous quarter, house prices in the UK climbed by 2.3% in the quarter to October.

"UK house prices climbed again in October, as the value of the average property grew by 0.9%, an increase of more than £2,500 during the month. With prices rising for a fourth straight month, the annual rate of inflation now sits at 8.1%, its highest level since June," Halifax's managing director Russell Galley noted.

Baha Breaking News (BBN) / NP