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The Guardian - UK

Business

Joanna Partridge

UK house prices fall for fifth month in a row

Nationwide United Kingdom Bank of England

for sale and to let signs — Annual house price growth slowed to 1.1% in January, down from 2.8% in December 2022. Photograph: Anthony Devlin/PA

House prices in the UK continued to fall in January, sliding for the fifth month in a row, according to Nationwide, pushing the average cost of a home 3.2% below the peak seen last August.

The cost of a home dropped by 0.6% in the first month of the year compared with December 2022, according to the building society’s monthly survey.

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