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U.K. Home Prices Post Biggest Monthly Drop in Almost Eight Years

  • Halifax index shows property values plunged 3.1% in April
  • Less volatile three-month measure also shows a decline
Bloomberg business news

London Home Prices Keep Falling

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U.K. home prices plunged the most in almost eight years in April, adding to signs of weakness in Britain’s property market.

Values dropped 3.1 percent from March to an average 220,962 pounds ($299,140), mortgage lender Halifax said in a report Tuesday. That’s the biggest drop since September 2010. While that figure can be volatile, the quarterly measure also showed a decline. It fell 0.1 percent, a third straight drop.