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House price rises &#39unsustainable&#39

House prices are rising at an unsustainable rate but show no signs of slowing down, Nationwide Building Society is warning.

The lender’s latest house price index shows property prices have shot up 10.9 per cent since last year, rising 1 per cent in July.

Although last month’s figure marks a slowdown from June’s growth of 1.9 per cent, Nationwide says it may be forced to raise its original prediction of 7 per cent growth for the year.

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