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Halifax released its house prices data for the U.K. on Thursday. House prices in the U.K. increased 1.1% in October, exceeding expectations for a 0.6% gain, after a 0.9% rise in September.
On a yearly basis, house prices climbed 9.7% in the three months to October, exceeding expectations for a 9.5% gain, after a 8.6% increase in the three months to September.
"Improving economic conditions and household finances, together with sustained low mortgage rates, have boosted housing demand during 2015. Strengthening demand is filtering through in to higher sales levels although the ongoing shortage of supply is acting as a significant constraint on activity," Halifax's housing economist Martin Ellis said.
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