British house prices fell by 0.6% in May compared with the previous month, while annual growth slowed to 1.7%, according to figures released by Nationwide Building Society on Monday.
The latest data showed house prices remained 1.7% higher than a year earlier, but growth eased from 3.0% recorded in April.
According to Nationwide’s data, the seasonally adjusted house price index fell to 551.0 in May from 554.3 in April.
The average house price, on a non-seasonally adjusted basis, declined to £278,024 from £278,880 a month earlier.
First monthly decline of the year
Commenting on the figures, Robert Gardner, Chief Economist at Nationwide, said the housing market experienced its first monthly setback of 2026.
UK annual house price growth slowed to 1.7% in May, from 3.0% in April.
Prices fell by 0.6% month on month, after taking account of seasonal effects, the first monthly decline so far…
