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The society’s monthly snapshot of the market showed the average price of a property in the UK increased to £150,946. The rise follows 16 months of falls, and reverses some of the 1.9% drop recorded in February, but the society said it was a “surprise bounce” and it was too early to talk of house price recovery. Rival lender the Halifax surprised commentators when it reported a 1.9% increase in prices in January, but this was more than offset by a fall in February.
