UK house prices fall unexpectedly in April

British house prices fell unexpectedly for a second month running during April, figures from mortgage lender Nationwide showed on Wednesday.

House prices fell 0.4 per cent month-on-month, after a 0.2 per cent drop in March. A Reuters poll had pointed to a 0.2 per cent increase.

In annual terms, house price growth cooled to 0.6 per cent from 1.6 per cent.

The figures pointed to some moderation in the recent recovery in housing market activity, which saw mortgage approvals rise...