House prices fall but boom may continue
House prices have fallen for the first time in four months, according to new data. Nationwide figures show that the average value of a home fell 0.5% to £244,229 in July. Analysts say the loss of momentum is largely down to the end of the stamp duty tax break in England, with the maximum saving on the tax having been reduced from £15,000 to £2,500. However, says The Telegraph, “ultra-low interest rates, household savings and a long-term shift in the way people work and commute” could help push prices up again.
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