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Average house price drops 4.6%

The average house price in England and Wales in August fell by 4.6% compared to the same period in 2007.

The latest figures from the Land Registry also show that the average house price in August 2008 was £174,493, a 1.9% decrease on July.

London also experienced a decrease in its average property value over the last 12 months, with a movement of -3.2%, taking the average London house price to £336,620.

Hartlepool experienced the highest annual change with an increase of 4.8%, taking its average property price to £117,350.

The most up-to-date figures available show that during June 2008 the number of completed house sales fell by 56% to 54,072 from 123,293 in June 2007.


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Abbey subsidiary The Mortgage Alliance is launching a general insurance proposition with Abbey for Intermediaries and Halifax.

BoE auctions to be held weekly

The Bank of England is set increase the size and number of auctions it holds to help cash strapped lenders.

FOS to name and shame

The Financial Ombudsman Service is to name and shame companies that it receives the most complaints about.

John Charcol signs protection deal with L&G

John Charcol has partnered with Legal & General for a sole-tie distribution agreement to provide protection and mortgage payment protection insurance products.


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