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August sees another record house price rise

House prices recorded their second largest rise in more than 15 years last month, despite the tapering of stamp duty relief.

Property prices increased by 2.1% month-on-month in August after falling by 0.6% in July, according to the Nationwide house price index.

Prices are now 11% higher than a year ago, with further rises now expected due to pent up demand.

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