House price rise picks up speed - Rightmove

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UK property prices continue to defy gloomy predictions of a pending collapse as a new report reveals prices have so far this year risen twice as fast as last year.

Latest figures by property website Rightmove suggests prices have already increased by 8% from January this year compared with just 3.8% during the first couple of months in 2003. Annual house price inflation also rose sharply from 11.9% in March to 14.4% in April, taking residential property inflation to its highest level since May 2003, the Rightmove House Price Index says. Average price tag for a property in the UK now stands at £184,582 - forcing potential buyers to cough up another £5,000 for the same house they viewed a month earlier. Demographically, all regions are current...

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