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Property prices up 1.2pc

Further signs of a pick-up in the housing market emerged today, after the Halifax said property prices increased by 1.2 per cent in September.
The monthly gain resulted in an increase of 1.8 per cent for the past three months - the biggest quarterly rise for a year, the mortgage bank added.

The Halifax said the lift in monthly house price inflation was consistent with a recent rise in activity levels, although the 3 per cent annual rate of growth was still well down on the 20.5 per cent recorded in the same quarter of 2004.

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