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Asking price down for North West houses

Asking prices for houses down Credit: PA

The housing market revival continued in August but asking prices fell in the North West a property website has reported.

Rightmove said August had seen the first dip in sellers' asking prices this year so far, down by 1.8% month-on-month to £249,199 on average across the country.

The North West saw the biggest monthly fall, at 3.5%, although on an annual basis prices there are up by 0.9%.

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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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