House price rise continues

Published:  01 September, 2009

UK: According to the Nationwide, UK house prices in August rose, for the fourth consecutive month to 1.6% compared to the previous month but were still 2.7% lower than in August last year.

A typical home now costs £160 224 compared to peak in October 2007 of £186 044.

According to the British Bankers' Association (BBA) mortgage approvals for July were 38 181, up from 35 235 in June and 77% higher than in July last year. Gross mortgage lending also rose slightly to £8.4bn compared to £8.1bn the previous month.

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