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House prices on the up

The average price of properties bought or sold in the UK rose in October according to Nationwide Building Society.

The average price paid for a house crept up by 0.9 per cent to £81,036 from £80,307 which makes the average price 9.9 per cent higher than the same period last year.

Nationwide planning divisional director David Parry says: “Price increases in the last two months have now more than offset the decline seen in the summer. We expect moderate price increases for the remainder of the year so our forecast is at 7 per cent.”

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