House prices fall a further 0.4%, Nationwide says

5th May 2017

UK house prices dipped 0.4% in April, the second consecutive monthly fall recorded in the Nationwide house price index – however the building society is still predicting prices will rise by 2% over the year. Meanwhile, the annual rate of growth slowed to 2.6%, the weakest since June 2013. The average cost of a home is now £207,699, with the typical house price at present 6.1 times higher than average earnings. Nationwide's chief economist Robert Gardner added that although house price growth has softened, “activity has remained broadly stable, with mortgage approvals for house purchase fairly steady at a respectable 68,000 per month”.

The Times (28/04/2017)