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House price dip blamed on Olympics

House prices have fallen for the third month in a row, including in the North West. New research has put the slump down to buyers staying home to watch the Olympics.

The North West saw the second steepest fall, down 2% to an average of £159,729.

Summer sellers have had some very stiff competition, not only from competing sellers chopping their prices, but also from the Olympics extravaganza which has been more compelling for many than viewing property.

The global squeeze in the credit markets has seriously affected the man on the street's access to mortgage financing, permanently hampering their ability to finance their journey onto and up the housing ladder."

– Miles Shipside, housing market analyst

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