LONDON (Reuters) - British mortgage lender Halifax said on Tuesday that house prices in the three months to July were more than 10 percent higher than a year earlier after a sharp rise on the month.
Halifax said that house prices rose by 1.4 percent in July after a 0.4 percent drop in June to take house prices in the three months to July 10.2 percent higher than a year ago.
Economists polled by Reuters had expected monthly and annual increases of 0.4 percent and 9.6 percent respectively.
"While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates," said Stephen Noakes, mortgages director at Halifax.
(Reporting by David Milliken; Editing by Toby Chopra)