UK PROPERTY PRICES CONTINUES WITH GROWTH
The United Kingdom house prices increased by one
percent in October and are now 5.8 per cent higher than October 2012 but remain
about seven per cent below the peak of 2007, according to latest monthly index
from the nationwide building society. The rise of takes the average property
price to E173,678. Nationwide’s
chief economist, Robert Gardner, said the UK housing market appears to be
following the more resilient upward trend evident in the wider economy in
recent quarters.
He said that the one per cent increase over the month
in October means that prices are maintaining the momentum that has been
building in the second half of 2013. After averaging less than one per cent in
the first half of the year, the annual pace of house price growth accelerated
to 5.8 per cent in October from five per cent the previous months.
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