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UK house prices fall for longest period since 2010: Halifax

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British house prices fell for a fourth month in a row in June as Covid-19 continued to depress the market, the longest run of monthly declines since 2010.

[LONDON] British house prices fell for a fourth month in a row in June as Covid-19 continued to depress the market, the longest run of monthly declines since 2010, mortgage lender Halifax said on Tuesday.

Halifax said average house prices dropped by 0.1 per cent in June after a 0.2 per cent fall in May, and were 0.9 per cent lower than in the first quarter of 2020.

Compared with a year earlier, prices were up by 2.5 per cent, though this was the slowest rate of growth since November 2019.

"The near-term outlook points to a continuation of the recent modest downward trend in prices through the third quarter of the year," Halifax managing director Russell Galley said. 

REUTERS

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