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Bloomberg
London house prices posted their biggest drop in almost a decade in July.
Home prices fell 0.7 percent, the biggest decline since September 2009, the Office for National Statistics said. The average property in the capital cost $640,000.
Trends in the London property market tend to start in boroughs in the centre and west of the city, before moving outwards, according to ONS analysis of the financial crisis.
Nationally, growth moderated to 3.1 percent, the weakest pace since August 2013 and mainly driven by slowing in the south and east of England. The average British home now costs 231,000 pounds, with the strongest price gains seen in the northwest.