Average house price dipped 0.3% in February to £210,402.

House prices dipped for the first time in six months in February, according to an index.

A 0.3% month-on-month fall took the average UK house price to £210,402, Nationwide Building Society said.

It was the first time since August 2017 that house prices have fallen month on month.

The annual pace of house price growth eased back in February, after an unexpected pick-up in January, Nationwide said.

House prices were 2.2% higher than a year earlier.

#Nationwide report #UK #house #prices fell 0.3% m/m in February, which marked a clear correction after a rise of 0.8% m/m in January. Annual increase down to 6-month low of 2.2% in February after rising to 10-month high of 3.2% in January.

— Howard Archer (@HowardArcherUK) March 1, 2018

Robert Gardner, Nationwide’s chief economist, said: “After picking up unexpectedly in January, UK house price growth fell back in February, to 2.2% from 3.2% the previous month.

By Vicky Shaw.

Full story at Yahoo News.