UK House Prices See Biggest August Fall Since 2018
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House prices in Britain fell in August. This is the biggest fall for this month since 2018.
The website Rightmove checks house prices in the UK. It says prices may fall more this year.
People call a small rise in prices in some areas the 'Burnham bounce'. But Rightmove thinks prices will still go down overall.
In London's richest area, Kensington and Chelsea, asking prices for new homes fell by £100,000 in one month.
An asking price is the price a seller wants for a home. It is not always the final price.
Also, the boss of a big US bank, Jamie Dimon, spoke about UK banks. He warned the UK not to make bank taxes higher.
Bank taxes are extra money that banks must pay to the government.
Dimon works for JP Morgan, a large American bank. His words show worry among big banks about UK plans.
Vocabulary15 words
- Rightmove
- a UK website that shows homes for sale
- Burnham bounce
- a small, short rise in prices in one place
- asking price
- the price a seller wants for something
- bank taxes
- money banks must pay to the government
- borough
- a part of a big city with its own name
- fall
- when a price goes down
- warn
- to tell someone about a problem before it happens
- boss
- the leader of a company
- property
- houses and land
- government
- the group of people who run a country
- richest
- having the most money
- overall
- when you think about everything together
- seller
- a person who sells something
- worry
- a bad feeling about something
- plans
- ideas about what to do next
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Quiz
Answer key
1. 2018 2. A UK website about house prices 3. Higher bank taxes
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
House prices in Britain fell in _____. This is the biggest fall for this month since _____.
The website _____ checks house prices in the UK. It says prices may fall more this year.
People call a small rise in prices in some areas the '_____'. But Rightmove thinks prices will still go down overall.
In London's richest area, Kensington and Chelsea, asking prices for new homes fell by _____ in one month.
Also, the boss of a big US bank, Jamie _____, spoke about UK banks.
He warned the UK not to make _____ higher.
Dimon works for _____, a large American bank.
His words show _____ among big banks about UK plans.
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