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House price rises slow as market cools

House prices appear to have been cut by an average of about £22,500 as the market cools.

According to Zoopla’s house price index, prices rose by 8.4% in the year to April, but growth will slow to 3% by the end of the year.

Zoopla said one in 20 sellers are having to reduce their asking price by 5% or more to sell their properties, more than the one in 22 in April.

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