House prices dipped 1.1% year-on-year in February, Nationwide reports

The building society said it was the first annual decline recorded since June 2020.

Nationwide said annual house price growth across the UK slipped into negative territory in February for the first time since June 2020 (Yui Mok/PA) (PA Archive)

House prices fell by 1.1% year-on-year in February, marking the first annual decline since June 2020, according to an index.

A 0.5% month-on-month price fall was also recorded, Nationwide Building Society said.

Across the UK, the average house price in February was £257,406.