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The Guardian - UK
The Guardian - UK
Business
Jack Simpson

UK house prices fall for first time in three months amid ‘subdued’ market

Painted rows of houses in Bristol
High mortgage rates continue to affect the UK property market. Photograph: Toby Melville/Reuters

The UK housing market was “subdued” in March with prices edging down on the previous month as high mortgage rates continued to affect the market, according to Nationwide building society.

It is the first time in three months that house prices have fallen, after gains of 0.7% in the previous two months.

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