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The Independent UK
The Independent UK
National
Vicky Shaw

Sharp drop in UK house prices as rising cost of borrowing hits market

Robert Gardner United Kingdom Christian Duncan Bank of England Knight Frank Nationwide Nationwide Building Society
EPA

House prices in the UK fell at the sharpest annual rate in 14 years in August, according to an index.

House prices fell by 5.3 per cent annually in August, taking the average property value to £259,153, Nationwide Building Society said, marking the biggest annual percentage drop since July 2009.

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