[LONDON] British house prices rose in October by the fastest annual pace for more than three years, a leading survey showed yesterday. Prices jumped 6.9 per cent annually last month, the strongest gain since May 2010, according to data from home-loans provider Halifax. That followed a 6.2 per cent increase in September.

The bank added that house prices advanced by 0.7 per cent in October from the previous month, taking the average cost of a home to £171,991 (S$343,875). That was the ninth monthly price increase in a row.

Halifax - which is part of state-controlled Lloyds Banking Group - added that the market was boosted partly by government-backed schemes.