UK house prices up 0.9 pct in September

LONDON (AP) — House prices in England and Wales rose 0.9 percent in September, a government agency said Wednesday, confirming a rise noted by the country's two major mortgage lenders.

Still, the Land Registry said the September gain left the average price 5.6 percent lower than a year ago. The survey was based on all housing transactions in the regions.

House prices in the U.K. rose 1.6 percent in September, the third monthly increase in a row, due to improving demand and a continuing shortage of property for sale, the nation's leading mortgage lender said Tuesday, citing its own business.

The Halifax, the nation's No. 1 mortgage lender, had reported that prices rose 1.6 percent in September, while No. 3 lender Nationwide Building Society reported a gain of 0.9 percent.

Analysts have said house prices are being supported by a restricted supply of homes on the market.

The Land Registry, however, has recorded an increase in activity, with 57,579 transactions completed in July — the latest month available — compared to the low of 26,662 in January.