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HOUSE PRICES RISING FASTER - The Metro

House prices rose at their fastest rate for a year last month, latest figures show.

The price rise followed the latest confidence-boosting cut in interest rates, amid signs that the market is beginning to pick up after a relatively quiet first eight months of the year.

The 1.6 per cent rise followed the Bank of England's decision to cut interest rates by a quarter of a per cent to 4.5 per cent last month.

It was the largest rise since September last year, according to Halifax, and followed the first reduction in the cost of borrowing for two years.