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09/04/08 - Good News For Derby House Owners

Whilst house prices dived by 2.5% during March, their biggest monthly fall since the 1990s house price crash, figures released today show that the East Midlands is bucking the trend with rising house prices.

Halifax, who released the figures, said homes had lost 1% of their value during the first quarter of 2008, to leave the average property costing £191,556. But there has been huge regional variation within this figure, with house prices in the West Midlands falling by 5%, a fall of 4.7% in Wales and by 2.6% in the South West during the first three months of the year.

But at the other end of the scale house prices rose by 2.2% in the East Midlands and 1.6% in Greater London

A Halifax spokesman stressed  that the most recent drops needed to be seen in the context of national house price gains of 51% during the past five years and rises of 171% during the past 10 years.  (Source: Metro)

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