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House prices fall in most London and south-east postcode areas

Zoopla estimates that 85% of homes in London and south-east England are in postcode areas where prices fell over the previous year, compared with 35% across the UK.

UK house prices rose 0.8% in one year. The average price was £273,100.

Some areas had growth of over 3%. This happened in the North West and Scotland.

Zoopla said mortgages cost more. Buyers also had more homes to choose from.

Buyers could ask for lower prices. Sellers needed good prices.

Richard Donnell of Zoopla said people still wanted to buy homes. Sellers needed good prices and good homes.

Nathan Emerson of Propertymark said each area was different. Buyers looked more closely at value.

Section: London

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