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Report: House prices fall in Britain


In March, house prices in the UK fell for the first time in nearly two years, according to a report by Nationwide.

The average price of homes fell by 0.3 percent to about 207,000 pounds, the Nation newspaper reported.

The Guardian said this was the first decline in home prices since June 2015, noting that economists were expecting a 0.4 percent rise in prices.

In February, house prices rose 0.6 percent.

The Bank of England published a report earlier this week that revealed that mortgage approvals declined in February for the first time in six months.

The UK housing market is expected to be under pressure in 2017 due to inflation and poor wage growth

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