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UK house prices spiked in September

GBPUSD News by Newsroom on 03:39 September 19, 2016 EST

The average asking price for a house in Britain rose by 0.7 percent in September, the leading property website Rightmove said on Monday. The average house price was 306,499 pounds.

The rise follows a 1.2 percent contraction in August.

On a yearly basis, house prices gained 4.0 percent, slowing marginally from the 4.1 percent growth in the previous month.

Brexit has not taken a toll on property prices, at least just yet. UK housing and stocks are probably benefiting from the sinking pound and the accommodative monetary policy of the Bank of England that cut interest rates by a quarter down to 0.25% and hinted that it could bring this even lower.