UK home price rise quickens at fastest pace in seven years
London leads recovery spreading across the country
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[LONDON] UK house-price growth accelerated in February to the fastest in seven years as London led a recovery that's spreading across the country.
Prices in England and Wales rose 0.7 per cent from the previous month - the most since April 2007 - with values in London up 1.1 per cent, property researcher Hometrack Ltd said. Fifty-one per cent of postcodes reported gains, the biggest share in almost a decade.
Bank of England (BOE) chief economist Spencer Dale said in a Bloomberg News interview last week that the revival in the property market is good for the economy, and is still in the early stages in many areas outside London.
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