House price drop slowing - Nationwide

Prices slipped just 0.1% from December and, even though it is a drop for the third consecutive month, Nationwide describes the fall as “modest”. The annual rate of house price inflation also edged down, from 4.8% to 4.2%, with the average house price now at £180, 473, a drop of just short of £1,500 from December but an increase of £7,249 since January last year. Martin Gahbauer, Nationwide senior economist, says: “UK house prices were barely changed in January, recording a modest fall of 0.1% over the month on a seasonally adjusted basis. “Although house prices have now fallen for three ...