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UK house prices continued to rise for a sixth month in October, data released by the Nationwide Building Society showed Friday.
The house price index climbed 0.4% month-on-month after an increase of 0.9% in September, while economists had forecast 0.6% growth. House prices have been rising since May on a monthly basis.
In October, annual house price inflation turned positive for first time since March 2008, with an increase of 2% following zero growth in September. Economists had expected 1.8% increase. Average asking price for a typical UK property stood at GBP 162,038 in the month, up from GBP 161,816 in the previous month.
"The strong upward momentum in property values seen over the summer is showing some signs of moderating as we head into the autumn months," Nationwide's Chief Economist Martin Gahbauer said.
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