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UK House Prices Log Weakest October Increase Since 2008: Rightmove

UK house prices logged the weakest growth for October since 2008 amid heightened Brexit uncertainty, property website Rigthmove reportedly said Monday.

House prices grew 0.6 percent month-on-month in October. This was the slowest increase since the financial crisis. House prices had increased 1.6 percent on average in the same period last year.

On a yearly basis, asking prices dropped 0.2 percent in October versus a 0.2 percent rise in September.

With upward pricing power now pretty flat, some sellers who are motivated by maximising their money seem to be holding back, Rightmove director Miles Shipside said.

They may be waiting for more certainty around both achieving their price aspirations and also the Brexit outcome, Shipside added.

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