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London house prices continue to fall as capital sees UK's sharpest drop

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London’s house prices have continued to fall in May, with the capital seeing the UK's biggest decline, according to surveyors.

A highly-regarded survey published this morning also revealed that London is the only region where prices are expected to fall further over the next year.

The report, published by the Royal Institution of Chartered Surveyors (Rics) found that a greater proportion of surveyors saw a drop in prices over the last two years than those who saw a lift in the capital.

Looking ahead, 27 per cent more surveyors predict further fall in prices in the next three months rather than a rise.

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