UK house prices surge unexpectedly in October: Halifax

[LONDON] 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 on Monday.

House prices shot up 1.4 per cent in October compared with an upwardly revised 0.3 per cent increase in September. Economists polled by Reuters had expected only a 0.2 per cent rise.

In the three months to October, house prices were 5.2 per cent higher compared with the same period a year ago - again stronger than the Reuters poll consensus that pointed to 4.8 per cent rise.

REUTERS