House prices fall for second month

HOUSE PRICES fell for the second month running during September according to Nationwide Building Society.

Nationwide's seasonally adjusted house price index showed that UK prices fell by 0.2 per cent in September compared to August, although prices are still 7.5 per cent higher than a year ago.

The deceleration in prices primarily reflects a slowing of prices in London and the south-east, Nationwide said. The building society expects housing market activity to remain "reasonably resilient" although "it will not be immune to the inevitable slowing of the wider economy already underway".