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House price growth slides

Annual house price growth fell for the seventh month in a row during May to hit a 26-month low, figures show.

The average cost of a home in the UK dropped by 0.3% during the month to stand at £218,151, according to Communities and Local Government.

The fall, driven by a 2.1% slide in the price of detached houses and a 1% drop in the cost of bungalows, reduced annual house price growth to 3.7%.

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