August 7, 2018 / 7:43 AM / 10 days ago

UK house prices jump in July by more than expected - Halifax

LONDON (Reuters) - British house prices spiked in July, despite other signs of softness in the market, mortgage lender Halifax said on Tuesday.

FILE PHOTO: A row of houses are seen in London, Britain June 3, 2015. REUTERS/Suzanne Plunkett

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

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