Economic Buzz: UK house prices rise to record high

UK house prices rose to a record high in October as property market activity remained strong ahead of Autumn Budget, data from the mortgage lender Halifax revealed Friday.

The value of the average UK homes reached GBP 299,862 in October, the highest on record.

House prices grew 0.6 percent month-on-month in October, which was the fastest since January. Prices were forecast to edge up 0.1 percent, reversing September's 0.3 percent drop.

At the same time, annual growth in house prices rose more-than-expected to 1.9 percent from 1.3 percent in September. Economists had anticipated a 1.5 percent rise.

Powered by Commodity Insights