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Property Prices in October Fall
28 October 2008
Property prices have fallen by 7.3% in England and Wales in the year to October.
Prices are now at their lowest level since March 2006. Average prices dropped by 1.3% to £163,200. This is compared to a 1% drop in September. Homes are now taking an average of 11.9 weeks to sell compaered to 11.5 weeks last month.
Buyers are paying 89% of asking prices compare with 90% in September.
3.3% fewer new buyers were registered with agents and 0.9% fewer properties were listed.
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