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Advertisement

 
MW: U.K. house prices pick up in October: Halifax
 
LONDON--U.K. monthly house-price growth picked up decisively in October, a British lender's data showed Monday.

Prices rose by 1.4% in October compared with the previous month, lender Halifax said, significantly above the 0.3% growth seen the previous month. Compared with October last year, house prices grew by 5.2%.

Whether house prices hold up in the aftermath of Britain's vote to leave the European Union matters to the overall health of the world's fifth-biggest economy. Over the past three decades, U.K. households have cut spending every time house prices have fallen.

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The Bank of England has previously said the number of new mortgages in the U.K. rose slightly in September after it fell to a near two-year low the month before.

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