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UK house prices rise at fastest annual pace since 2016 - Halifax

Students, residents and tourists go about their daily life amidst COVID-19 pandemic, in Oxford
Students, residents and tourists go about their daily life amidst COVID-19 pandemic, in Oxford

LONDON (Reuters) - British house prices rose in October at the fastest annual rate since June 2016, although there were signs of fading momentum as the COVID-19 pandemic escalated, mortgage lender Halifax said.

House prices rose 7.5% in October compared with a year earlier, compared with annual growth of 7.3% in September, Halifax said.

But in October alone, house prices rose 0.3% - the weakest growth in four months.

(Reporting by Andy Bruce; editing by Kate Holton)