London House Prices Decline In March: Rightmove

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House prices in London continued to decrease in March, property website Rightmove reported Monday.

Home prices dropped 0.6 percent annually in March to GBP 631,651. Nonetheless, prices climbed 0.6 percent from February.

The annual decline is bound to be a deterrent to some potential sellers, Miles Shipside, Rightmove director, said. "Even though fewer properties are coming to market, the slower rate of sales means stocks of unsold property are growing, leading to subsequent downwards price pressure."

In the UK as whole, house prices grew 1.5 percent month-on-month in March, taking the annual growth to 2.1 percent.