Britain's house prices fell 0.2pc in May, while annual growth slowed to 2.4pc, down from 2.6pc in April, according to figures from mortgage lender Nationwide.
May's dip makes it the third fall in house prices over the past four months, with a modest 0.1pc rise recorded in April. The average UK house price is now £213,618.
Robert Gardner, Nationwide's chief economist, said surveyors were continuing to report subdued levels of new buyer enquiries, while the supply of properties on the market remains "more of a trickle than a torrent".
While house price growth was consistent with the 2-3pc growth recorded over the past 12 months, Mr Gardner said there were "few signs of imminent change".
Nationwide has maintained its forecast for house prices to rise by around 1pc in 2018, with the market dependent on how "broader economic conditions evolve" and a potential increase in interest rates, it said.
By Sophie Christie.
Full story at Yahoo News.
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