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House prices drop again

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AVERAGE house prices have fallen for the third year in a row.

It is the first time in more than 30 years that negative growth has been record for three successive years.

Figures released today for 2012 show that prices dropped by one per cent compared with 2011.

The downward trend was driven by the falling prices of three-and four-bedroomed houses. The mean price of a three-bedroom house dropped by £24,000 to £487,000 in 2012 and a four-bedroom property by £9,000 to £671,000.

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