"Thursday July 29, 07:31 AM House prices soar again
LONDON (Reuters) - House prices were back on the boil in July, up 2.1 percent on the month and 20.3 percent higher than a year ago, the fastest rate of house price inflation in more than a year, the Nationwide Building Society says. The figures are sure to be of concern to Bank of England officials, who are keen to slow down house price inflation gradually with interest rate rises given the potential damage that a crash could wreak on the overall economy. The data are also likely to cement even further already solid expectations for a quarter point interest rate hike to 4.75 percent next week."
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