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British house price picks up in October: Halifax

Xinhua, November 6, 2015 Adjust font size:

The latest Halifax house price index released on Thursday showed that British average house price stood at 205,240 pounds (about 312,827 U.S. dollars) in October after seasonally adjusted, 1.1 percent higher than in September.

House prices in the latest three months were 2.8 percent higher than in the preceding three months. The prices in the three months to October were 9.7 percent higher than in the same three months a year earlier, according to the Halifax, a lender under Lloyds Banking Group.

"Improving economic conditions and household finances, together with sustained low mortgage rates, have boosted housing demand during 2015. Strengthening demand is filtering through in to higher sales levels although the ongoing shortage of supply is acting as a significant constraint on activity," said Martin Ellis, Halifax housing economist.

"The imbalance between supply and demand is likely to persist over the coming months, maintaining upward pressure on house prices," he added. Endit