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House buyers hold the key |
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House prices fell for the second consecutive month in August, slipping 0.9% to an average £166,507, giving buyers the upper hand after months of tight supply.
“As more sellers have returned to the market, buyers have a greater selection of properties to choose from and more bargaining power with which to bid down asking prices,” said Martin Gahbauer, chief economist at Nationwide.
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House prices up 0.2% in August |
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House prices rose 0.2% in August to stand 4.6% higher in the year at an average £167,953, said the Halifax on Wednesday, adding that with July’s rise recent falls have been reversed.
"House prices increased by 0.2% in August. This, together with July's rise, has reversed much of the modest decline in the three preceding months. Prices are now at a very similar level to that at the end of last year,” said Martin Ellis, housing economist at the Halifax.
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