London Home Sellers Raise Prices, Defy Economic Gloom

London home sellers raised asking prices by the most in six months in October as owners across the U.K. brushed off the challenges posed by the biggest fiscal squeeze since World War II, Rightmove Plc said.

Average asking prices in the capital increased 5 percent from September to 418,778 pounds ($671,301), the most since February, the operator of Britain’s biggest property website said in a report published in London today. Across the U.K., prices rose 3.1 percent to 236,849 pounds.