UK house prices jump 8.1% in October
House prices in the United Kingdom increased by 8.1% in October compared to the same month in 2020, according to Halifax's monthly House Price Index report published on Friday. The figure came in above estimates.
House prices in the United Kingdom increased by 8.1% in October compared to the same month in 2020, according to Halifax's monthly House Price Index report published on Friday. The figure came in above estimates, Baku Tribune reports citing Breaking News.
On a monthly basis, housing prices in October rose 0.9%, reaching an average price of £270,027. Compared to the previous quarter, house prices in the UK climbed by 2.3% in the quarter to October.
"UK house prices climbed again in October, as the value of the average property grew by 0.9%, an increase of more than £2,500 during the month. With prices rising for a fourth straight month, the annual rate of inflation now sits at 8.1%, its highest level since June," Halifax's managing director Russell Galley noted.
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Editor's note: Eugene Chausovsky is a senior analyst at the Newlines Institute. Chausovsky previously served as senior Eurasia analyst at the geopolitical analysis firm Stratfor for more than 10 years. His work focuses on political, economic, and security issues pertaining to Russia, Eurasia, and the Middle East.
