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LONDON (Reuters) – British house prices increased by 12.6% year-on-year in October, the Office for National Statistics (ONS) said on Wednesday, pushed up in part by a sharp fall in the same month last year after changes to the stamp duty property tax.
The increase was higher than September’s 9.9% rise.
More recent measures of Britain’s housing market have shown property prices falling in month-on-month terms after a surge in overall inflation hit households finances and interest rates rose.
(Reporting by William Schomberg; editing by David Milliken)
