Thursday, 1 November 2012

UK house prices rebound 0.6% after 0.4% fall last month | Money | guardian.co.uk

UK house prices rebound 0.6% after 0.4% fall last month | Money | guardian.co.uk

Terraced houses in Leicester
Nationwide's monthly house price index showed the three-month figure up by 0.5%, the first rise over that period since January. Photograph: Darren Staples/Reuters

House prices in the UK jumped by 0.6% in October, more than offsetting the previous month's 0.4% fall and bringing the average cost of a property to £164,153, according to Nationwide building society.

The lender's monthly house price index showed prices were down 0.9% year-on-year, but the three-month figure moved into positive territory for the first time since January and showed a 0.5% rise.

Nationwide's chief economist, Robert Gardner, said while monthly figures had failed to show any strong trend, with three months of rises and three months of falls since May, the annual rate of change showed "a picture of relative stability".

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