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U.K. House prices fall to 19-month low as loan restrictions deter buyers

Posted on 15 August 2011

U.K. house prices fell to the lowest level in more than 1 1/2 years last month as banks’ requests for larger deposits deterred first-time buyers, Acadametrics Ltd. and LSL Property Services Plc said.

The average price of a home in England and Wales fell 0.1 percent from June to 217,300 pounds ($351,700), the lowest since December 2009, the groups estimated in an e-mailed report in London today. Prices dropped 2.6 percent from a year earlier……………………………………….Full Article: Source

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