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House prices rose by 8.4% in 2013, Nationwide says

UK house prices rose by 8.4% in 2013 as the economy started to gain momentum, according to the Nationwide Building Society.

The annual rise meant the average home was now valued at £175,826, it said.

The change was driven by annual house price growth of 14.9% in the final quarter compared with a year earlier in London, but prices rose in all regions.

However, it said the average UK property price remained 5% below the peak in prices reached in late 2007.

The Nationwide’s figures are based on the lender’s own mortgage data, so do not give a complete picture of the UK housing market.

For the full story… http://www.bbc.co.uk/news/business-25575964

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