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Evening Standard

Business

Jonathan Prynn

London house prices: soaring mortgage rates cause drop in property values

London Nationwide Inflation

Soaring mortgage rates hit the London property market in the first quarter of the year when average house prices dropped by 1.4 per cent, new figures show today.

Leading lender Nationwide said the capital saw one of the biggest drops of any UK region during the January to March period as higher borrowing costs started to bite.

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