# UK house prices show unexpected strength in October: Nationwide
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-11-03
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: British House Prices Rise Faster Than Expected in October
Meta Description: Discover why British house prices rose by 0.7% in October, exceeding expectations. Mortgage lender Nationwide reports strong demand and limited supply.
URL: https://financedigest.com/uk-house-prices-show-unexpected-strength-in-october-nationwidehtml

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LONDON (Reuters) – British house prices rose last month at a faster rate than expected as robust demand and a lack of new homes coming to the market kept up momentum, a survey showed on Wednesday.

Mortgage lender Nationwide said house prices rose by 0.7% in monthly terms in October after a 0.2% rise in September. A Reuters poll of economists had pointed to another 0.2% increase.

The increase left [house prices](https://www.financedigest.com/buy-off-plan-to-beat-stalling-house-prices-and-falling-rental-yields-says-jean-liggett.html "“Buy off-plan to beat stalling house prices and falling rental yields” says Jean Liggett ") 9.9% higher than a year previously, although this marked the weakest annual growth rate since April.

The [outlook remains](https://www.financedigest.com/euro-zone-credit-growth-remains-brisk-despite-gloomy-outlook.html "Euro zone credit growth remains brisk despite gloomy outlook") extremely uncertain,” said Nationwide chief economist Robert Gardner.

If the labour [market remains resilient, conditions may stay fairly buoyant in the coming months – especially as the market continues to have momentum and there is scope for ongoing shifts in housing](https://www.financedigest.com/uk-housing-market-weakness-continues-improvement-on-the-horizon-rics.html "UK housing market weakness continues, improvement on the horizon – RICS") preferences.

(Reporting by Andy Bruce; editing by Sarah Young)


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