House price growth accelerated this month, another sign
of renewed momentum in the housing market. Mortgage lender Nationwide said
house prices rose 0.6 percent in October compared with a 0.5 percent increase
in September. Economists polled by Reuters had expected 0.5 percent growth this
month as well. House prices rose 3.9 percent year-on-year, up from the 3.8
percent annual increase in September. A recent National House Building Council
report showed registrations for new homes -- which take place before building
starts -- edged down in the third quarter compared with a year ago. Read more
on the Reuters website.
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