LONDON: UK house prices fell in February for the first time in five months, according to research by Nationwide.
Average house prices fell 0.1% from £188,446 in January to £187,964, said the UK’s second biggest mortgage lender.
Annual house price growth slowed for the sixth month in a row to 5.7%, its lowest since September 2013.
House prices have fallen in spite of the UK’s improving economic outlook and access to low interest rates.
Mortgage rates remain close to all-time lows and consumer confidence remains buoyant thanks to a further steady improvement in labour market conditions,” said Nationwide’s chief economist Robert Gardner.
