LONDON (Reuters) - British house prices spiked in July, despite other signs of softness in the market, mortgage lender Halifax said on Tuesday.
House prices surged 1.4 percent during the month of July after a 0.9 percent rise in June, Halifax said, topping all forecasts in a Reuters poll that pointed to a 0.2 percent increase.
Compared with a year ago, house prices were 3.3 percent higher than a year ago, the fastest rate of growth since November and compared with a 1.8 percent rise in June.
“While the quarterly and annual rates of house price growth have improved, housing activity remains soft,” Halifax managing director Russell Galley said.
Reporting by Andy Bruce; editing by Sarah Young