- Actor James Gandolfini, star of 'The Sopranos,' dies in Italy
- British Supreme Court ruling threatens Western sanctions against Iran
- Britain to start sale of Lloyds soon, review RBS split |
- US STOCKS-Wall St drops after Bernanke hints at slowing stimulus
- Italian designers Dolce and Gabbana convicted of tax evasion
House prices fall at faster rate in October
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.
(Reporting by Sven Egenter; editing by Tim Castle)
- Tweet this
- Share this
- Digg this