July house prices fell at fastest rate since 2009 - Nationwide

Its house price index showed that this pushed the annual pace of price growth down to -2.6%, from -1.5% in June – the weakest result since August 2009. Robert Gardner, Nationwide’s chief economist said the weaker price trend observed in recent quarters is unsurprising, given the disappointing performance of the wider economy. “Data released last week revealed that the UK recession intensified in the three months to July, with the economy contracting by 0.7% quarter on quarter. “Indeed, the UK economy has contracted 1.4% over the past nine months, and is now 4.5% smaller than it was...