Record house price drop recorded

House prices dropped by a record 15.1% in January year-on-year says the Land Registry, the largest drop since the Registry began its records in January 1995.

The average property now costs £153,753 after a 0.8% fall last month. Of all the areas recording house price falls, London and Wales have been particularly badly hit, dropping 14.1% and 19.7% respectively

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