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House prices up says Nationwide

House prices rose by 1.2 per cent nationally in December and ended the year 9.3 per cent up according to Nationwide quarterly figures just released.

The fourth quarter of 2000 showed a two per cent increase compared to a 0.4 per cent decrease in the third quarter. Nationwide expects the increase to continue in 2001, supported by the new pay round and bonuses, with base rates to remain around six per cent for the present.

Nationwide divisional planning director David Parry says: “The market paused for breath mid-year and is now moving ahead at a sustainable pace.”

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