August 29, 2014 / 6:16 AM / 3 years ago

UK house prices surge unexpectedly in August - Nationwide

LONDON, Aug 29 (Reuters) - British house prices rose during August at a much faster monthly pace than expected, according to a survey on Friday that contrasted with other signs of cooling in the housing market.

Mortgage lender Nationwide said house prices rose 0.8 percent on the month in August compared with a 0.2 percent rise in July. Economists polled by Reuters had expected an increase of 0.1 percent.

House prices rose 11.0 percent on an annual basis, up from 10.6 percent in July - again outstripping forecasts for a 10.1 percent increase. (Reporting by Andy Bruce, editing by John Stonestreet)

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