London sees house prices slip
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August has seen a rise in house price inflation in England and Wales, according to property website Rightmove, although prices in London dropped for the first time in a year.
Annual house price inflation grew to 12.8% in early August, up from 10.3% a month earlier, as buyers appear to be coping with the five interest rate rises since last August.
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Asking prices were up 0.6% on the month, much better than the 0.3% seen in the four weeks to 14 July, lifting the average asking price to £241,474, although prices in London eased 0.1% to £394,268.
"This fall is an early warning signal that even the buoyant London economy is susceptible to market forces," said Rightmove's commercial director Miles Shipside.
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