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House prices bounced back in July, says Nationwide..

House prices bounced back in July, climbing 1.7% during the month compared to a 1.5% fall in June, according to the Nationwide.

“The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions,” it said.

Activity has been boosted by pent-up demand and the stamp duty holiday.

But the lender warned: “There is a risk this proves to be something of a false dawn.”

The average price in July was £220,936, according to the Nationwide. However, while prices were up 1.5% from a year earlier, July’s price was 1.6% lower than in April at the beginning of lockdown. https://www.bbc.co.uk/news/business-53606869