British house prices fall 0.8 per cent in June, defy growth forecasts

British house prices fell by 0.8 per cent in June, a sharper fall than forecast and the biggest monthly decline in more than two years, as a discount on property transactions ended, data from mortgage lender Nationwide showed this week.

Economists polled by Reuters had forecast a 0.2 per cent monthly increase.

For the year, house prices were 2.1 per cent higher than a year ago, below a 3.5 per cent rise in May and lagging a consensus for a 3.1 per cent annual increase.

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