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HOUSING MARKET'S 6.5% RISE

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UK house prices are 6.5per cent higher than a year ago - the sharpest rise for nearly six years the Nationwide has said.

The acceleration came as the housing market remained robust despite the economic effects of the pandemic, the lender added. House prices were 0.9 per cent higher in November than in October, with the average property valued at £229,721, the Nationwide said.

That is the fourth month in a row that house prices have set a new record. Prices have been climbing thanks to strong demand post lockdown coupled with the Chancellor's stamp duty holiday.

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