Britain’s house prices in June fell in annual terms for the first time since 2012 as the country reeled from the coronavirus shock to the economy, mortgage lender Nationwide said on Wednesday, Trend reports with reference to Reuters.
Nationwide said its measure of house prices fell by 0.1% compared with June of last year.
In monthly terms, prices fell by 1.4%, not as steep as May’s 1.7% fall, the biggest drop in more than 11 years.
A Reuters poll of economists had pointed to an annual rise of 1.0% and a monthly fall of 0.7%.