U.K. House Prices Rebound as Pent-Up Demand Supports Market
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U.K. house prices rebounded in July as pent up demand helped support the market, according to Nationwide Building Society, which said the government’s stamp-duty cut will likely help boost value in the near term.
Values rose 1.5% from a year earlier to an average of 220,936 pounds ($290,000), the mortgage lender said Friday. That reversed an annual decline in June that was the first since 2012. On a monthly basis, prices rose 1.7%.