(MENAFN) House prices in London increased in the third quarter by 10 percent year-on-year giving signs of recovery in Britain's house market, but raising fears of a potential new forming bubble, Times of Oman reported.
The average price of houses in the country increased to USD231,079 or by 4.3 percent in the July-September period versus the same period last year, while house prices in the capital increased to USD532,730 or by 8 percent versus prices during 2007.
Chief UK economist at IHS Global Insight research group said: "The acceleration in house prices... reported by the Nationwide will fuel concern that we could be on our way to a new housing bubble."
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