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House prices up in November

07-Jan-2008

The housing market in England and Wales grew stronger in November, according to new figures released.

Research from the Land Registry showed a 0.6 per cent increase in house prices between October and November.

Annual growth stood at 8.1 per cent on average, the survey revealed.

In November, the average cost of a property was £186,009 following the increases.

Robert Bryant-Pearson, chief executive of Allied Surveyors, said there was not likely to be a house crash in the near future.

He added: "There is still a severe shortage of homes which means that prices cannot plunge, only correct for certain types of property which has been a long time coming."

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