October house prices static
The latest survey on the UK housing market indicates that prices were left unchanged last month, though activity continues to improve.
The Halifax, the mortgage arm of HBOS, says UK house prices were unchanged in October at 0.0% though were up 3.9% on an annual basis taking the average house price to £168,210.
"The pattern of price movements during recent months shows that the market has strengthened, but the static level of prices in October suggests that we are not poised for another sustained period of sharply rising property values," said the Halifax.
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Halifax chief economist Martin Ellis said, "House prices were unchanged in October following increases of over 1% in both August and September."
"The overall pattern of price movements over the past few months shows that the market has strengthened compared with earlier in the year, but the static level of prices in October suggests that we are not poised for another sustained period of sharply rising property values," said Ellis.
