UK House Prices Fall For First Time in Two Years

U.K. house prices fell for the first time in almost two years in March, according to the latest report from Nationwide Building Society.

The 0.3 percent monthly drop, the first decline since June 2015, pulled the annual rate down to 3.5 percent from 4.5 percent. That’s the weakest year-on-year increase in values since August 2015.

While there’s monthly volatility in price changes, the underlying trend is showing the U.K. housing market cooling. The annual increase was close to 6 percent a year ago.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.