RTTNews - The average asking price of a new home in England and Wales was down 6.7 percent on year in August, property data company Hometrack said on Monday, marking the slowest rate of decline in 11 months. Prices were down an annual 7.7 percent in July.

On a monthly basis, home prices inched up 0.1 percent for the first increase in 25 months following a flat reading in July.

By region, the picture remained unchanged as there was a glut of houses in the north, while supply was tight in London and in the southeast portion of the country. Prices were up in just 11 percent of the districts covered by the survey and were static in the remaining 89 percent.

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