UK house prices rise by more than expected in November – Halifax


LONDON (Reuters) – British house prices rose by more than expected in November and for a fifth month in a row, mortgage lender Halifax said on Thursday.

Property sale signs are seen outside of a group of newly built houses in west London, Britain, November 23, 2017. REUTERS/Toby Melville

House prices rose 0.5 percent month-on-month after a 0.3 percent rise in October, Halifax said, topping the consensus in a Reuters poll of economists for a 0.2 percent rise.

But house price growth slowed on an annual basis to 3.9 percent, following a 4.5 percent rise in October.

“The imbalance between supply and demand continues to support house prices, which doesn’t look like changing in the near future,” said Russell Galley, managing director of Halifax Community Bank.

Reporting by Andy Bruce; Editing by Janet Lawrence

Our Standards:The Thomson Reuters Trust Principles.

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