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Crest Nicholson posts average house price rise, flags London weakness

Reuters - UK Focus

Nov 15 (Reuters) - British housebuilder Crest Nicholson (Frankfurt: A1KCZN - news) Holdings Plc saw average selling prices for its homes rise in the 2017 fiscal year ending Oct (Shenzhen: 000069.SZ - news) . 31 while saying there were signs of a weakening market in central London.

The company built 2.3 percent more homes in the 12 months to the end of October but said its underlying sales rate per outlet per week fell to an average of 0.77 from 0.81 last year.

Average selling prices increased 5.4 percent to 391,000 pounds ($514,751.50).

"The housing market is generally robust across the Group's principal operating areas and sales prices continue to show moderate growth although Central London transactions are suffering from some volume and price weakness," Crest Nicholson said in a statement. ($1 = 0.7596 pounds) (Reporting by Radhika Rukmangadhan in Bengaluru; editing by Patrick Graham)