‘Weakest since 2012’: UK house price average falls to £257,406

Prices down 1.1% year-on-year in February – the first annual decline since June 2020

Property for sale signs in Tynemouth, North Tyneside, England
House prices are suffering the ‘worst slump’ in 11 years
(Image credit: Washington Imaging/Alamy Stock Photo)

Prices of property across the UK were down 1.1% year-on-year in February – falling to an average of £257,406 compared to £258,297 in January, according to Nationwide’s latest index. This sees the annual house price growth slip into negative territory for the first time since June 2020 and is the “weakest” since November 2012.

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