FXstreet.com (Barcelona) - UK housing prices posted the largest monthly increase on the whole year as shortage of property on sale keeps pushing prices higher, according to the latest report by the Nationwide Building Society.

House prices have grown 1.1% in October and 9.7% from October last year, figures somewhat higher than the 0.7% monthly increase and the 9.0% year on year rise posted in September.

October's increases have been higher than expected, as experts advanced a 0.2% increase on the month and 8.6% on the year.