London House Prices End Longest Losing Streak Since 2009

London house prices rose for the first time in seven months just before Labour’s budget, ending the longest run of losses since the global financial crisis.

The Office for National Statistics said the average value of a home in the capital rose 1% to £553,700 ($742,150) in November, reversing a 0.6% drop the month before. While London remains the only UK region where prices are down on the year, the annual rate of decline eased to 1.2%, the slowest since August.