House prices cool

UK house prices rose at their slowest pace for seven months in October, according to the latest figures from the ONS. Average house prices increased by just 0.1% over the month to £271,000. The figures show that annual house price inflation across the country cooled to 10.4% from a seven-year high of 12.1% in September. However, there is a view that stamp duty reforms announced in the Chancellor’s Autumn Statement will boost both transactions and house prices in the coming months.