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London House Prices Plunge in May...........>

UK DATA: London House Prices Plunge in May
-UK May London House Price Index -4.4% y/y, biggest drop since Aug 2009
-UK May National HPI +1.2% y/y vs +1.5r% in April 
London house prices suffered their biggest decline since the depths of 
the financial crisis in May. Housing costs in the capital were also 
revised downward by 0.3 percentage points to record a 1.7% decline in 
April. London prices have slumped by 6.4% since peaking in July 2017, 
knocking Stg31,000 off the price of an average home. Nationwide, prices 
continued to grow moderately, up 1.2% in May, but have not recorded a 
rise of more than 2.0% since November 2018. 

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