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UK house prices rise more than expected in July - Halifax

Published 06/08/2014, 08:17
UK house prices rise more than expected in July - Halifax

LONDON (Reuters) - British mortgage lender Halifax said on Tuesday that house prices in the three months to July were more than 10 percent higher than a year earlier after a sharp rise on the month.

Halifax said that house prices rose by 1.4 percent in July after a 0.4 percent drop in June to take house prices in the three months to July 10.2 percent higher than a year ago.

© Reuters. A man walks past the signage of a new property development advertising apartments for 5.5 million pounds sterling in central London

Economists polled by Reuters had expected monthly and annual increases of 0.4 percent and 9.6 percent respectively.

"While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates," said Stephen Noakes, mortgages director at Halifax.

(Reporting by David Milliken; Editing by Toby Chopra)

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