UK House Prices See Biggest Annual Fall Since 2009

UK House Prices See Biggest Annual Fall Since 2009
Terraced houses in southeast London on Jan. 13, 2023. Daniel Leal/AFP via Getty Images
Alexander Zhang
Updated:

The average UK house price saw its biggest annual fall in nearly 14 years in May, Britain’s biggest building society has said.

According to the Nationwide Building Society, property values fell by 3.4 percent annually in May, marking the biggest drop seen since July 2009, when an annual fall of 6.2 percent was recorded.