Nationwide: House prices down by 0.1%

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Nationwide: House prices down by 0.1%

House prices declined by 0.1 per cent during January, according to the latest figures from Nationwide.

This reflects the third month in a row that house prices have decreased, while the yearly rate of house price inflation has also gone down, from 4.8 per cent to 4.2 per cent.

Martin Gahbauer, senior economist at Nationwide, explained that the downward trend "undoubtedly signals a continued cooling in annual house price inflation" in the coming months.

However, he pointed out that the buy-to-let market may still be strong for those who have a long-term view on their investments.

He added that concerns about the credit crunch "are certainly relevant" to such investors, but added that "they are much more of a factor for those with a short investment horizon rather than those in it for the long term".

Recent figures from the Land Registry support the possibility that the housing market in England and Wales may be in the midst of a downward trend.
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