UK House Prices Fall for 1st Time This Year as Market Slows in Summer: Report

UK House Prices Fall for 1st Time This Year as Market Slows in Summer: Report
An aerial view of terraced houses in southwest London on Aug. 13, 2017. Victoria Jones/PA
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House prices in the UK have fallen for the first time in 2022 largely because of seasonal factors rather than wider economic conditions, a property website has said.

According to the Rightmove website, the average asking price for UK properties fell by 1.3 percent, or £4,795 ($5,680), in cash terms month-on-month in August to reach £365,173 ($432,613).