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House prices up as UK economy 'shows signs of recovery'

4 July 2013 Last updated at 19:31 BST

There is evidence to suggest that the UK economy may be showing signs of recovery.

UK new car registrations jumped by 13.4% in June from a year earlier, the Society of Motor Manufacturers and Traders has said. This marks the 16th consecutive month that car sales have risen.

Elsewhere, one of the UK's biggest mortgage lenders Halifax has said 'improved confidence' has led to house prices rising at their fastest annual rate for nearly three years.

However, the Bank of England remains cautious, holding interest rates at 0.5%.

Hugh Pym reports.

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