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House Prices Rise But Economists remain Cautious

House prices continued to rise last month, fuelled by cheap borrowing rates and a shortage of homes coming on to the market.

Halifax has reported a 1.6 per cent increase in prices in September, the third consecutive monthly rise and the fifth that the lender has recorded this year. Yesterday's figures came a week after Nationwide reported that prices had risen by 0.9 per cent last month and will accelerate  hopes of a market recovery.