British house prices declined by 0.8% in June, the sharpest monthly drop in over two years, according to figures published Tuesday by mortgage lender Nationwide.
The fall surprised analysts, who had anticipated a 0.2% increase for the month.
The decline aligned with the expiration of a property transaction discount, which had previously supported demand in the housing market.
On a yearly basis, prices were up 2.1% compared to June 2024, slowing from a 3.5% annual rise in May. The annual gain also came in below economists’ expectations, which had predicted 3.1% year-over-year growth.
