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House price recovery continues

House prices have risen by more the 7% in a year

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House prices have risen again, according to the latest government UK house price index statistics.

In February 2010, UK house prices were 7.4% higher than 12 months earlier, according to the Department of Communities and Local Government. Compared with data about mortgage completions during February 2009, the figures show that the average price of a house has gone up to £204,359, an increase of £14,612.

Regional variations

In the quarter ending February 2010, UK house prices rose by 2.9%, slightly less than the rise of 3.4% in the previous quarter. House prices rose by the most in England (7.9%), compared with Scotland (4.2%) and Wales (4.7%). In Northern Ireland, house prices fell by 8.3%.

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