House prices rise further

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UK property prices continued to rise in August despite some signs that the housing market has been slowing in recent month.

The introduction of tougher mortgage checks in late April, as part of the Mortgage Market Review (MMR), talk of a housing bubble and mounting speculation that the Bank of England will soon increase interest rates, currently at a record-low of 0.5 per cent, has weighed on sentiment causing overall demand from purchasers to fall. Yet, the latest data shows that prices are still rising.

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