UK house prices fall for fifth month in a row

Average cost of home now 3.2% below August 2022 peak as mortgage demand slumps

House prices in the UK continued to fall in January, sliding for the fifth month in a row, according to Nationwide, pushing the average cost of a home 3.2% below the peak seen last August.

The cost of a home dropped by 0.6% in the first month of the year compared with December 2022, according to the building society's monthly survey.