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U.K. House Prices Fell in April for First Time in Three Months

U.K. house prices fell in April for the first time in three months and values will probably remain unchanged or decline “modestly” during the rest of this year, Nationwide Building Society said.

The average cost of a home declined 0.2 percent from March to 165,609 pounds ($273,800), Britain’s biggest customer-owned lender said in an e-mailed report today. That’s the first decrease since January and compares with the median forecast for a 0.1 percent increase in a Bloomberg News survey of 14 economists. Prices fell 1.3 percent on the year.