UK - House prices rise twice as much as forecast

UK house prices increased twice as much as economists forecast in October as record-low interest rates and a limited supply of homes buoyed the property market. Home values climbed 1.2% to an average of GBP165,528 (USD270,000) after rising 1.5% in September. The median forecasts were for a 0.6% increase. Prices are now down 17% from the peak in August 2007. (Bloomberg)