House price inflation at two-year high
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House price inflation in Britain rose to its highest since March 2005 led by London and the South East, according to the latest government data.
The annual rate of house price inflation rose to 12.4% in July compared to 12.1% in June, according to figures from the Department for Communities and Local Government. The average price of a house in the UK has now risen to £218,479.
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Prices in London and the South East are still soaring, with house price inflation in the capital jumping to 19.1% from 17.5%. In the South East, the rate rose to 11.9% from 10.7%.
Prices in the rest of the UK slowed down, rising at a rate of 10.6% compared to 10.9% in June.
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