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Homes drop

House prices fell by 0.7 per cent in December, the largest monthly fall since February 2004, according to Government figures released this week. Prices for detached houses fell by 1.3 per cent, terraced houses by 0.6 per cent and flats by 0.8 per cent, the Office of the Deputy Prime Minister reported.The average house price was £178,906 at the end of 2004, down from £180,126 in the penultimate month of the year.

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