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(CEP News) - House prices in the United Kingdom continue to plunge but the pace is slowing, according to the UK's Royal Institute of Chartered Surveyors house price survey.
The survey showed 73.0% of surveyors reported a fall rather than rise in house prices in March. This figure is a slightly better result than the 78% recorded in February. The house price balance was expected at -77.0%. It was the most favourable reading in 13 months. Still, only 2% of respondents said sales rose in the month. The index has been negative since August 2007. The results tell a similar story to those of another closely-watched UK house price survey from Rightmove. March's Rightmove house price index increased by 0.9% monthly but was down 9.0% year over year. The next report for January is due on May 11. By Adam Button,
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