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British house price up in September

Xinhua, September 30, 2015 Adjust font size:

British house prices increased by 0.5 percent in September, a touch higher than the 0.4 percent reported last month, according to the Nationwide, one of the country's largest mortgage providers.

Annual growth accelerated to 3.8 percent, from last month's 3.2 percent, said the Nationwide in its monthly house price report published on Wednesday.

Average price stood at 195,585 pounds (about 296,468 U.S. dollars) before seasonally adjusted, it added.

Ed Stansfield, Chief Property Economist of Capital Economics, said that the house price growth picking up reflected improving demand conditions and the shortage of homes for sale.

"With few signs that the imbalance between buyers and sellers is closing, we expect prices to rise a little faster towards the end of the year," he added. Endit