House prices fall for fifth month in a row

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House prices successful the UK fell for the 5th period successful a enactment successful January, according to Nationwide Building Society.

The terms of the mean spot past period was £258,297, down by 0.6% connected December.

Annual location terms maturation slowed to 1.1%, down from 2.8% successful December.

The gathering nine said it would beryllium "hard for the marketplace to regain overmuch momentum successful the adjacent term" successful the look of beardown economical headwinds.

On Tuesday, the Bank of England reported lenders had approved less mortgages than expected successful December, astir 35,000 compared with much than 46,000 successful November.

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