Average UK house price falls again in January

The averge house price dropped by 0.6 per cent in January, Nationwide Building Society says

The average UK house price fell by 0.6% in January (PA)

The average UK house price has fallen for the fifth month in a row – dropping by 0.6 per cent in January – according to one of the country’s biggest mortgage lenders, Nationwide.

Annual house price growth also slowed to 1.1 per cent, from 2.8 per cent in December. The typical property value is now 3.2 per cent lower than the peak seen last August.

The average UK house price in January 2023 was £258,297. The annual growth rate of 1.1 per cent is the lowest since the early months of the coronavirus pandemic, in June 2020, when house prices fell by 0.1 per cent annually.