UK house prices rise for first time since March amid supply shortages
UK house prices rose last month after a run of six monthly falls as sellers adopted a cautious attitude, leading to a shortage of homes on the market. The average price of a property rose to £281,974 in October, up 1.1% from September, an increase of almost £3,000 and the first time prices have gone up since March. Compared with October last year, prices fell 3.2%, smaller than the annual decline of 4.5% in September. Kim Kinnaird, the director of Halifax Mortgages, said: “Prospective sellers appear to be taking a cautious attitude, leading to a low supply of homes for sale. This is likely to have strengthened prices in the short-term, rather than prices being driven by buyer demand, whichContinue Reading