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Seven Days: 4 September 2020

Seven Days: 4 September 2020

House prices rebound

Reversing earlier losses

UK house prices edged up by 2 per cent in August, after a 1.8 per cent increase in July – signifying the highest monthly rise since February 2004. In turn, house prices climbed by 3.7 per cent on an annual basis, up from 1.5 per cent in July, according to the latest Nationwide House Price Index. Robert Gardner, Nationwide’s chief economist, said that “house prices have now reversed the losses recorded in May and June and are at a new all-time high”, noting that the recovery in activity had been “unexpectedly rapid”. See p50 for Emma Powell’s take.

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