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London luxury-home prices decline for first time in 16 months

Posted on 02 August 2010

From Bloomberg: Luxury-home prices in central London declined in July for the first time in 16 months as the recovery persuaded more owners to sell, broker Knight Frank LLP said.
Prices of properties costing at least 1 million pounds ($1.56 million) fell 0.5 percent from June, the London-based real estate adviser said in an e-mailed report today. They rose 17 percent from a year earlier, the smallest gain since February……………………………………….Full Article: Source

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