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UK house prices have risen by 5.4% in the year to August, according to the Halifax’s latest house price survey.

It is the highest annual rate since June 2010.

On the Halifax’s measure, the average price of a house also went through the £170,000 mark for the first time in five years.

However, the figures are still well below the peak of the market in August 2007, when the average price was almost £200,000.

The Halifax said housing market activity was up thanks to an improving economy, low interest rates, and government-backed schemes such as Help to Buy.

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