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9/1/2021, 8:00 AM (Source: TeleTrader)
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Annual UK house price growth at 11% in August

House prices in the United Kingdom rose by 11% year-on-year in August, according to the Nationwide House Price Index report released on Wednesday. On a monthly basis, the index was up 2.1%.

The average house price in the country in August stood at £248,857, up from £244,229 registered in the prior month.

"Underlying demand is likely to remain solid in the near term. Consumer confidence has rebounded in recent months while borrowing costs remain low. This, combined with the lack of supply on the market, suggests continued support for house prices," Nationwide's Chief Economist Robert Gardner said in the report.

Baha Breaking News (BBN) / MS