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House prices rise by 2.3%

House prices in the UK has risen by 2.3% compared to last year, defying surveyors' predictions that they would fall. Much of the increase was driven by a 6.5% rise in London, but they fell by 11.8% in Northern Ireland.

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House prices rise in London but fall elsewhere in UK

  • London, which has had strong interest from overseas buyers, is the only region where more surveyors reported price rises than falls.
  • The West and East Midlands and Yorkshire and Humberside were the areas where surveyors were the most likely to report prices falling.
  • The North and North West regions however are seeing demand from buyers generally rising over the last four months in a row, while demand has either been unchanged or dropped off elsewhere.

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