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New-build hit

The average selling price of newly built homes fell by 2 per cent in the second quarter of 2005 compared with the same period last year, figures published by the NHBC this week showed.The average price dropped to £171,000 against £174,000 in 2004.UK-wide figures show applications to start new homes increased 4 per cent to 47,369 from 45,375 in the same period last year.

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