Nationwide has said that house prices enjoyed their strongest rise in more than a year in October. The monthly rise of 1.3% was the biggest jump since July last year. The annual rate of house price inflation rose to 3.3%, up from the nine year low of 1.8% the previous month. Nationwide said the average house price was £157,107 in October. Fionnuala Earley, Nationwide’s group economist, said: “The data this month suggest a stabilisation in the market rather than turning point into a period of accelerating house prices. However, it will remain sensitive to movements in expectations, confidence and wider microeconomic developments – especially in the labour market.” The Times