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UK house price growth accelerates in December: Nationwide

[LONDON] British house price growth quickened by more than expected this month, according to a survey on Wednesday, another sign of growing momentum in the housing market.

Mortgage lender Nationwide said house prices rose 0.8 per cent in December compared with a 0.1 per cent increase in November. Economists polled by Reuters had expected growth of 0.5 per cent this month.

House prices rose 4.5 per cent year-on-year, up from a 3.7 per cent annual increase in November.