House Prices Fall for the First Time Since 2012 'global'

Month over month, UK house prices remained flat in May.

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The average property price in the United Kingdom fell 1.0 percent in May compared with the same period last year.

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The average UK property now costs 286,532 British pounds, or $357,000.

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Property prices have fallen by about 3,000 pounds over the last 12 months.

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And are down around 7,500 pounds from the peak last August.

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The Bank of England raised its benchmark interest rate in May to 4.5%, the highest since 2008.

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