British house prices soared by 21 percent in the year to July, the fastest pace for 13 years, the country's leading home-loan provider, Halifax, said yesterday. In June, prices had risen by 19.3 percent. But there was a glimmer of good news for Bank of England officials concerned about an overheated housing market after the monthly rate fell to 1.9 -- the lowest level for three months -- from 2.4 percent in June. "The UK housing market has been very strong in 2002 and July was no exception," said Halifax economist Gary Styles. "Indicators of housing market activity confirm a buoyant but slowing market. Bank of England policymakers, who left their main lending rate unchanged at a 38-year low of 4 percent for the ninth month in a row last week, have voiced concerns about the house-price boom.
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Tue, Aug 06, 2002 - Page 12 News List
Real estate: UK housing prices rise
STAFF WRITER, WITH AGENCIES
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