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According to figures from the Land Registry, the average home is now worth £155,885 after the biggest monthly growth since July 2004.
"The latest figures show that all regions experienced a positive monthly change in their average property values in July," the body noted in a statement.
A rise has now been recorded in each of the past three months, however prices are still down 11.7 per cent year-on-year.
The north-east region saw the sharpest annual decline in house values with a drop of 13.2 per cent, while the greatest fall was in Luton, where prices are now 22.5 per cent lower than they were a year ago.
Earlier this week, Nationwide revealed figures showing that the average sale value of a home was up 1.6 per cent on July's figure this month.
