Stimulus schemes boost house prices

House prices rose at their fastest rate for almost three years in June as state stimulus schemes improved confidence and a property shortage fuelled a recovering housing market.

Prices between April and June rose 3.7% on a year earlier to an average of £167,984, the biggest increase since August 2010, mortgage lender Halifax said. Values in June were 0.6% higher than May, the fifth consecutive month of rises.
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