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Northern Rock predicts rising house prices on back of interest rate cuts

Northern Rock is predicting a steady increase in house prices in 1999 for the North East and Cumbria following the fifth successive interest rate cut.


The bank&#39s latest quarterly house price survey found that house prices in the Northeast and Cumbria increased by 0.7 per cent between November and January.


It found that the average price of a house in the Teesside area rose by £1,650 to £57,700.

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