UK housing market sees largest monthly fall in prices since 2012

Property prices in the UK are falling on an annual and a monthly basis, with values down to an average of £214,745, according to the latest lender index. Annual price growth in the 12 months to August 2018 fell to 2% from 2.5% in July and month on month values were down by 0.5%, the biggest monthly fall since July 2012, the data from Nationwide shows. , However, Robert Gardner, Nationwide’s chief economist, pointed out that annual house price growth remains within the fairly narrow range of 2% to 3% which has prevailed over the past 12 months, suggesting little change in the balance between demand and supply in the market.