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Property sales hit 10 year high

London property sales have grown at the fastest rate in 10 years. Between March and September last year, 100% of London suburbs recorded an increase in sales, compared to the year before.

The North, the West Midlands, Wales and London were named in the Lloyds Bank report as the regions with the biggest proportion of "property hot spots". It also found the biggest increase was in the East London suburb of Newham, which recorded an annual increase of 62%.

The bank has attributed the rise to low interest rates, improvements in consumer confidence and the introduction of government schemes.

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London house prices to rise by 11% in 2014

Buyers looking to invest in property in London next year may see prices rise by 11%, according to the Royal Institute of Chartered Surveyors.

The increase is being blamed on a shortage of homes coming onto the market.

Prices in the capital are rising faster than elsewhere in the country, with the national average rise just 8%.

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