House prices rise 18% in October, but transactions plunge by 27%


There is no let up in the continuing rise in house prices, new figures from national statistics agency CBS show on Monday.

In October, house prices were up 18.3% year on year, virtually in line with the September increase of 18.5%.

House prices have been rising steadily since June 2013 and are now at their highest ever level.

However, the number of transactions continues to decline because of the shortage of stock. Just 16,191 transactions were reported to the Kadaster land registry department in October, down 27% year on year.

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