LONDON (AFX) - House prices in England and Wales rose by 1.2 pct in October from the previous month, pushing annual growth up to a 17-month high of 7.0 pct, according to figures released by the Land Registry.
The average house price for the two countries now stands at 171,709 stg.
Monthly growth in October was down only very slightly on September's huge 1.3 pct rise, which marked the first time in nearly 2 years a gain of more than one percent has been recorded. Annual growth meanwhile is up from September's 6.3 pct rise.
'This month sees a repeat of the strong house price appreciation experienced last month,' the Land Registry said, adding that the gains were driven primarily by strong rises in London and the South East. jessica.mortimer@afxnews.com jkm/nes COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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