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UK house prices surge unexpectedly in August - Nationwide

Published 29/08/2014, 09:18
© Reuters A worker walks past a picture of the London skyline outside the sales office of a property development in central London

LONDON (Reuters) - British house prices rose during August at a much faster monthly pace than expected, according to a survey on Friday that contrasted with other signs of cooling in the housing market.

Mortgage lender Nationwide said house prices rose 0.8 percent on the month in August compared with a 0.2 percent rise in July. Economists polled by Reuters had expected an increase of 0.1 percent.

© Reuters. Estate agents boards are lined up outside houses in south London

House prices rose 11.0 percent on an annual basis, up from 10.6 percent in July - again outstripping forecasts for a 10.1 percent increase.

(Reporting by Andy Bruce, editing by John Stonestreet)

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