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U.S. markets recover from steep losses
LONDON, May 30 (UPI) -- Home prices in Britain fell 2.5 percent in April, Nationwide, the country's largest building society said Friday.
The fall amounts to a decline in home values of $9,880 per month or $316 per day, The Mirror reported.
Home prices now average $343,000, Nationwide said.
Prices have fallen seven consecutive months and are now 4.4 percent below a year ago.
Home prices in Britain peaked in October at an average price of $367,7620, the report said.
Howard Archer, an economist at Global Insight, said April's figures prompted fears that a "sharp correction" was developing.
"The pace of house price falls accelerated in May as more weak economic news added to the gathering momentum of negative sentiment about the housing market," Nationwide economist Fionnuala Earley said.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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