House prices fell 0.2% in May, easing from April’s 0.4% drop but stretching the run of declines to three straight months for the first time since 2009, figures from Nationwide showed.
The on-year rise slowed sharply, to 2.1% from 2.6% a month earlier. That is the smallest increase since June 2013.
A number of factors could be at play, including the weaker pound and affordability issues.
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