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House price growth "firmly positive"

LONDON (Reuters) - House prices in England and Wales rose 0.6 percent on the month in November, according to Land Registry data published on Tuesday.

The government agency said prices rose 6.8 percent year-on-year, taking the average cost of a home to 172,006 pounds.
"After robust growth in September and October, the November monthly growth rate reflects a calmer market," the Land Registry said in its data release.

"However, the growth rate remains firmly positive. The November monthly growth rate is approximately twice the size of the average monthly growth in 2005."

The data, while not as strong as some surveys, indicates the housing market remained robust in the wake of two interest rate rises last year and with expectations of higher borrowing costs this year.

The Land Registry said a monthly dip in prices in London and the northern regions of Yorkshire and the Humber dragged on the overall index.

House price inflation in London and its surrounding areas -- where houses are most expensive -- has tended to outpace the rest of the country and helped to drive headline numbers higher. http://uk.biz.yahoo.com