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- Mon 12th Sep 2011
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- Mon 13th Jun 2011
Nationwide confirms fall in house prices
Fri 28 Dec 2007 3pm
Nationwide has confirmed that UK house prices declined in December.According to reports by the building society, over the course of the month, UK house prices declined by 0.5 per cent, causing the average house price to fall to £182,080.
"UK house prices fell by a seasonally adjusted 0.5 per cent in December, recording their second consecutive month-on-month fall," said Fionnuala Earley, chief economist at Nationwide.
"The annual rate of house price inflation fell to 4.8 per cent compared to 6.9 per cent in November and 10.5 per cent in December 2006," she added.
In November 2007, the average price of a property was £184,099.
Established in 1884, Nationwide is the world's largest building society.
In related economic news, the latest data from the Bank of England shows that inflation is currently at a rate of 2.1 per cent.
