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UK house prices drop for first time this year, says Rightmove
UK house prices have fallen for the first time this year but experts say summer distractions rather than deteriorating economic conditions are to blame. Figures released by Rightmove show that the average price of a UK property dropped to £365,173 in August, marking a 1.3%, or £4,795, decline. While there are concerns that rising interest rates – increased in response to soaring inflation – could weigh on the housing market, Rightmove said the dip was broadly in line with summer price trends over the past decade and would probably recover once house hunters returned from holiday breaks, which for many were the ... (full story)