Nationwide Building Society says that UK house prices went up by .8% in July which means that prices are now 3.9% higher than they were in July a year ago. This adds up to the strongest annual rate of house price growth since August 2010. Prices are up quite a bit in just one month- in June 2013 the monthly increase was .3% compared to .8% in July.
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Landlords who are looking for new properties to add to their portfolios should be steering clear of those which are near to noisy neighbours.
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With increasing talk of a housing bubble being created by the recent peak in activity in the property market, some are calling for cooling off measures. Year-on-year, house prices rose by 4.6 per cent in the three months to July – the highest rate since August 2010 – according to data from the Halifax
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Average monthly rents in the UK for residential property have reached a two-year high.
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Rightmove the property website has published its house price index for July 2013 and one of the most striking points is an increase from 2% to 4% in its forecast for average national asking prices in 2013. At the beginning of the year Rightmove suggested a more positive outlook for 2013 and came up with a forecast of a 2% rise but they now reckon that by the end of 2013 the average asking price of property coming to the market in England and Wales will be 4% up on the start of the year.
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