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London’s Sinking House Prices
Property costs posted their biggest drop in almost a decade in July
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The U.K.’s most expensive property market is also the worst performing. London house prices posted their biggest drop in almost a decade in July. Prices fell 0.7 percent from a year earlier, the steepest decline since September 2009, according to the Office for National Statistics. The average property in the capital cost 485,000 pounds ($640,000).