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First fall in house prices since June 2015

House prices fell 0.3% in March, figures from Nationwide showed, the first fall since June 2015 and confounding economists’ expectations for a rise.

Annual price growth slowed to 3.5%, a 19-month low, with the average house price now £207,308.

Nationwide said the gap between the best and worst-performing regions was now the narrowest since 1978, at 6.8 percentage points.

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