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The annual rate of decline of UK houses increased to 11.5 per cent in January, UK government figures revealed this week.
The department's snapshot of the market, which is based on completed sales, said the average price of a home in the UK is now £195,724 (A$412,506), according to The Guardian.
This is 0.2 per cent higher than in December but over £26,000 (A$55,000) less than in January last year.
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