UK residential prices keep rising due to chronic lack of supply

[Nicholas Wallwork]

A chronic lack of property for sale is pushing up prices of residential*real estate in the UK but there is still no sign of increased lending,*according to the latest figures to be released by various industry*sources.

UK house prices rose 2.6% in the three months to the end of August,*according to The Department for Communities and Local Government (DCLG).*It said prices increased by 0.5% on average in August alone, and over the*quarter to the end of the month were up 2.6%.

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