UK house prices pick up but still under pressure, says Nationwide

Lender says shortage of homes on the market and low mortgage rates are offsetting squeeze on household incomes

UK house price growth edged up to a three-month high in October, but pressure on household budgets is weighing on the market according to Nationwide.

Annual growth in house prices picked up to 2.5% from 2.3% in September, as a shortage of homes on the market and low mortgage rates propped up prices, the lender said in its monthly report. Prices rose 0.2% over the month, taking the average price of a UK home in October to £211,085.

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from The Guardian http://ift.tt/2h0mvHF