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House prices break another record

House prices in Britain hit a fresh record high last month, but the pace of the rise is slowing.

The latest figures from Halifax show an average increase of £1,789 in August, taking the average house price for the UK to £262,954.

But the bank said last month’s rise was “relatively modest” with the annual rate of house price inflation falling to 7.1%, its lowest in five months.

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