Nationwide have revealed that house prices in the UK have fallen for the third month in a row, for the first time since 2009.
The figures suggest that the housing market is losing steam, with the annual growth rate in May dropping to 2.1 per cent - the lowest figure in nearly four years.
Nationwide’s monthly house price index showed that the average price of a home fell by 0.2 per cent between April and May, to £208,711, following monthly declines of 0.4 per cent in April and 0.3 per cent in March.