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UK house prices suffer May slide

Staff Reporter 1 minute read

UK house prices dropped by a considerable 2.5 per cent in May – the largest monthly fall in the history of Nationwide Building Society’s monthly house price index.

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According to figures released by the building society overnight, the average house price now sits at £173,538 ($A358,502), 4.4 per cent down on May 2007.

Nationwide’s chief economist Fionnuala Earley dismissed concerns about the price drop; she said it wasn’t unexpected and that recent falls had “simply eroded some of the large gains that were made over the last few years”.

Published: 30-05-08

UK house prices suffer May slide
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