UK House Prices Show Unexpected Strength in October: Nationwide

High-rise apartments under construction can be seen in the distance behind a row of residential housing in south London, Britain, on Aug. 6, 2021. Henry Nicholls/Reuters

LONDON—British house prices rose last month at a faster rate than expected as robust demand and a lack of new homes coming to the market kept up momentum, a survey showed on Wednesday.

Mortgage lender Nationwide said house prices rose by 0.7 percent in monthly terms in October after a 0.2 percent rise in September. A Reuters poll of economists had pointed to another 0.2 percent increase.