UK HOUSE PRICES EDGE UP IN OCTOBER

British house prices rose by a marginal 0.1% in October, slowing sharply from a 0.6% monthly increase in September but the market remained resilient and was likely to gain momentum as borrowing costs fall.

Forecast prices would rise by 0.3% on a monthly basis. Compared with October last year prices were 2.4% higher, a weaker annual increase than September's 3.2% rise and below the median forecast for a 2.8% gain.

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