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UK October House Price Index Up 13 Points - RICS

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A barometer of sentiment in the U.K. residential property market increased in October.

The House Price Index from the Royal Institution of Chartered Surveyors (RICS) increased to 34 points in October, up from the September reading of 21 points.

RICS said the reading was the highest since December 2006, and also topped the expectations of most economic analysts.

The survey subtracts the percentage of surveyors reporting falling prices from those reporting rising prices.

The number of property sales per surveyor for the three month period increased to 19 from 18.5 in September.

The average stock of unsold property was unchanged in October at 64.

(Market News Provided by RTTNews)

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