LONDON (Reuters – British house prices rose at a quicker rate last month than predicted due to robust demand and a dearth of new properties on the market, according to a Wednesday survey.

Nationwide Mortgage said that October saw a 0.2% decrease in house prices, following September’s 0.2% gain. Another 0.2% rise was predicted by economists in a Reuters poll.

Although house prices were 9.9% higher in 2018 than they were a year ago, this was the lowest annual growth rate since April.

Robert Gardner, chief economist at Nationwide, stated that “the outlook remains extremely uncertain.”

“If the labour market remains resilient, conditions may stay fairly buoyant in the coming months – especially as the market continues to have momentum and there is scope for ongoing shifts in housing preferences.”