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Millennium property boom

The millennium will see the house price boom continue with prices outstripping wages and inflation, according to building society Nationwide.


Nationwide expects a 11 per cent surge in house prices following this years 13.5 per cent rise. The building society claims market confidence is set to stay throughout 2000.


Abbey National backed Nationwide forecasts with its predictions of a 10 per cent hike in house prices for 2000. A 10 per cent increase would top-up the average house price by £7,500 to around £82,500.


But the building societies were split over regional patterns with Nationwide claiming the biggest increases would be outside London and Abbey National predicting the south-east would again lead the way in percentage increases.

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