By Paul Hannon and Wiktor Szary

LONDON--U.K. monthly house-price growth picked up decisively in October, a British lender's data showed Monday.

Prices rose by 1.4% in October compared with the previous month, lender Halifax said, significantly above the 0.3% growth seen the previous month. Compared with October last year, house prices grew by 5.2%.

Whether house prices hold up in the aftermath of Britain's vote to leave the European Union matters to the overall health of the world's fifth-biggest economy. Over the past three decades, U.K. households have cut spending every time house prices have fallen.

The Bank of England has previously said the number of new mortgages in the U.K. rose slightly in September after it fell to a near two-year low the month before.

-Write to Wiktor Szary at Wiktor.Szary@wsj.com

(END) Dow Jones Newswires

November 07, 2016 04:23 ET (09:23 GMT)

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