Property News

Thursday, September 28, 2006

House prices rise again

According to Nationwide house prices were up 1.3% in September so far, bringing the annual rate of house price inflation to 8.2% - its fastest rate since February 2005.

Analysts said the figures suggested house prices still had further to rise and reinforced expectations the Bank of England might need to raise interest rates again this year from 4.75%.

"Just like the weather, the housing market was unseasonably warm in September," said Fionnuala Early, Nationwide's Group Economist.

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