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UK house prices rise at fastest pace in 15 years
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UK house prices grew at the fastest pace in 15 years over the past three months, with the average home valued at £20,000 more than this time last year, according to Halifax.
Prices rose by 3.4% in the quarter to the end of November, which is the highest quarterly rate since late 2006 and brought the average price of a home to a record of £272,992. A shortage of properties on the market, a strong jobs market and competitive mortgage rates were all propping up prices, the lender said.
House prices rose for a fifth month by 1% in November and were 8.2% higher than the same time last year, when the average property cost 252,235. Both the monthly gain and the annual growth rate were the same increases as in October.
Wales remained the UK nation
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