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British house prices rose faster than expected in May but are likely to increase less over the next year as tighter lending conditions and concerns about the sector weigh on demand, a survey showed on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its main house price balance ticked higher to +57 last month from an upwardly revised +55 in April. The strength of the housing market has raised questions about how long the Bank of England can refrain from raising interest rates.

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