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UK house price have hit fresh record highs, despite the prospect of the Bank of England raising interest rates in response to rising inflation.
Lender Nationwide reports that the price of the average house rose by 0.7% in October, up from 0.2% in September, extending the surge in prices since the first Covid-19 lockdowns ended last year.
The annual growth rate remained elevated at 9.9% in October, slightly lower than 10% a month earlier.
It means the average property price has risen by more than £30k since the pandemic hit early in 2020.
That lifts the price…