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May 29: Good news for some - as house prices fall

House prices dropped in May at the fastest rate since Nationwide building society's records began in 1991, down 2.5 percent on April's figure and down 4.4 percent on May last year. Chris Giles, economics editor, says that it's a significant fall but while it may cause pain for householders there is a small group which may partially welcome the news: members of the Bank of England's monetary policy committee.