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UK house prices rising slightly: mortgage lender

UK house prices rising slightly: mortgage lender

House prices in Britain have risen 0.9 percent in June, and have risen in three of the past four months, the Nationwide Building Society said yesterday.
Nationwide said the average price for a house in Britain is 156,442 pounds (US$259,000), still down 9.3 percent on a year ago. The company is Britain's No. 3 mortgage lender.
The lender said that a comparison of prices taken over a three-month period showed the first rise in prices since December 2007.
"The three-month on three-month rate of change - a smoother indicator of the short-term price trend - turned positive for the first time since December 2007 to stand at 0.9 percent, up from minus 0.4 percent in May," Nationwide's chief economist Martin Gahbauer said.
The figure echoes some other recent signs that the country's housing market is stabilizing.