UK House Prices Rise Faster Than Forecast, Nationwide Says
Mortgage rates have edged lower since the start of the year.
Photographer: Jason Alden/BloombergUK house prices displayed unexpected resilience in September as lower borrowing costs and rising earnings underpinned demand in the face of potential tax rises at the upcoming budget.
Nationwide Building Society said on Wednesday that average prices climbed 0.5% to £271,995 ($366,090) after a 0.1% fall the previous month. It was better than the 0.2% gain expected by economists. Prices were up 2.2% since a year earlier, a modest pickup from August.