Latest real estate index shows another fall in UK residential property prices

[Nicholas Wallwork]

Residential property prices in the UK have fallen for the second month in a row, the first time since February that they have declined for two consecutive months, the latest Nationwide index shows.

Prices fell by 0.9% in August. This follows a 0.5% drop in July. The index also shows that the three month on three-month rate of change, generally a smoother indicator of price trends fell from 1.2% in July to 0% in August, suggesting that property prices have essentially stagnated over the summer months.

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