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Updated Thursday, September 9, 2010 9:03 pm TWN, AFP

British house prices rise again in August, but rate slows: survey

LONDON -- British house prices rose further in August but at a slower pace compared with July, data showed on Wednesday, in marked contrast to a rival survey reporting that prices were in fact falling.

House prices rose by 0.2 percent in August after a gain of 0.6 percent in July, mortgage provider Halifax said in a statement.

“The improved economy, strengthening labor market and low interest rates are all supporting housing demand,” said Halifax economist Martin Ellis.

The data contrasts with figures from home loans provider Nationwide, which last week said British house prices fell for a second month running in August when they dropped 0.9 percent compared with July.

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