Good morning: House prices suffered their biggest montly fall in more than a decade in May, according to the Nationwide Building Society. Prices fell month-on-month by a larger than expected 1.7 per cent, the sharpest fall since February 2009. Year-on-year house price growth slipped to 1.8 per cent on the back of the fall. City economists had forecast a monthly fall of 1 per cent and an annual rise of 2.8 per cent. “Housing market activity has slowed sharply as a result of the measures implemented to control the spread of the virus.
Source: The Times June 02, 2020 08:03 UTC