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A rise in property prices is announced
Whilst many City economists are expecting a further cut in the interest rate on Thursday, there are a few that dispute the chance of a cut due to the recent announcement by the UK's biggest mortgage lender that the housing market is showing signs of recovery.
Halifax figures show a rise in property value of 1.3 per cent and a year on year growth of 5.2 per cent. The rise in prices is the biggest since February 2007 and fuels the belief of some commentators that the property market will recover quickly and show a further continuous rise in prices.
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