June 2, 2020 / 6:11 AM / a month ago

UK house prices fall by most since 2009 as COVID hits- Nationwide

LONDON, June 2 (Reuters) - Britain’s house prices fell by the most in more than 11 years in May as the coronavirus crisis hammered the market, mortgage lender Nationwide said on Tuesday.

Nationwide said its measure of house prices fell by 1.7% last month from April, the biggest decline since February 2009.

In annual terms, prices rose by 1.8%, slowing from 3.7% in April.

A Reuters poll of economists had pointed to a monthly fall of 1.0% and an annual rise of 2.8%.

Writing by William Schomberg; editing by Kate Holton

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