UK house prices fall for third month in a row for first time since financial crisis

Nationwide says average cost of home fell 0.2% last month with price growth slowing further in 2017 as inflation squeezes household income

House prices in Britain have fallen for the third month in a row, for the first time since the height of the financial crisis in 2009.

The fall further dragged down the annual growth rate in May, to 2.1%, the lowest in nearly four years, providing further evidence that the housing market is losing steam, according to Nationwide, the UK's biggest building society.