House prices fall at faster rate in October - Halifax
LONDON (Reuters) - House prices in Britain fell at a faster rate in October as the overall economy stayed weak, lender Halifax said on Tuesday.
House prices were 0.7 percent lower than in September, Halifax said, confounding economists' expectations for a small rise.
Prices in the three months to October were 1.7 percent lower than in the same period a year earlier, Halifax said.
"The weak economic background has been a key factor dampening housing demand this year," said Halifax economist Martin Ellis.
"Recent encouraging developments relating to the level of overall economic activity and conditions in the labour market, however, may help to support demand and underpin house prices around current levels over the coming months," he added.
- Tweet this
- Share this
- Digg this
- Sweden says credible reports of foreign submarine in its waters
- EU's Barroso to Britain - Don't alienate your friends in Europe
- Lufthansa cancels flights due to pilots strike; train stoppage strands millions |
- Tesco accounting probe finds 'inappropriate behaviour' by staff - reports
- Comet makes rare close pass by Mars as spacecraft watch