UK HOME prices rose for a second straight month in April, according to official data, suggesting the housing market is stabilising after a dip last year.
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The average price of a home rose to £281,000 (S$482,970), a 1.1 per cent rise compared with a year ago, the Office for National Statistics (ONS) said on Wednesday (Jun 19), citing Land Registry records. This followed a 0.9 per cent gain in March, which was revised down from 1.9 per cent.
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Those figures capped eight months of declines in the official measure of house prices and add to evidence that the market avoided a collapse that many analysts predicted after the Bank of England pushed interest rates to a 16-year high.
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