	Symbol	Bid	Ask
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U.K. Nationwide House Prices Fall Unexpectedly In June

U.K. house prices declined unexpectedly in June, the Nationwide Building Society said Thursday.

House prices were down 0.6 percent in June from a month ago, while economists were forecasting a 0.1 percent rise. The decline reversed last month's 0.2 percent increase.

Annually, house prices dipped at a faster pace of 1.5 percent in June, following a 0.7 percent drop in May. The annual fall exceeded the 0.6 percent decrease forecast by economists. Price of a typical home is GBP 165,738.

"The slightly weaker trend we've observed since March is unsurprising, given the difficult economic backdrop, with the UK economy dipping back into recession at the start of the year and few signs of a near-term rebound," said Robert Gardner, Nationwide's Chief Economist.

Published: 2012-06-28 07:18:00 UTC+00

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May 25 at 20:37 UTC