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Housing Today
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House prices fall at fastest annual rate in almost 14 years
Nationwide index for May also shows small monthly decline
House prices in the UK have fallen at their fastest annual pace in nearly 14 years, according to the latest figures from Nationwide Building Society.
The building society revealed in its House Price Index (HPI) that prices in the year to May fell by 3.4%, the biggest fall since July 2009.
Month-on-month, prices dropped slightly by 0.1%, with the average property price now standing at £260,736. Average prices remain 4% below their August 2022 peak.
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