RTTNews - The average asking price for a home in the United Kingdom retreated 2.2 percent on August compared to the previous month, according to property Web site Rightmove on Monday, coming in at £222,762.

That's down sharply from the 0.6 percent increase in July, when the average asking price was £227,864. On an annual basis, prices were down 3.1 percent - the same rate of decline as in the previous month.

Prices in London were down 3.8 percent, while they rose 0.8 percent in the North West and 1.4 percent in the East Midlands.

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