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UK house prices dropped in August as more sellers entered the market during summer holiday season, property website Rightmove reportedly said Monday.
Average asking prices decreased 2.3 percent in August from July.
In London, house prices plunged 3.1 percent on month in August.
Sellers who come to the market in the peak holiday season often have a pressing need to sell and price down accordingly, Miles Shipside, Rightmove Director said.
On a yearly basis, house prices increased 1.1 percent annually to GBP 301,973.
