UK House Price Fall for Fifth Month in a Row Amid Grim Economic Outlook

UK House Price Fall for Fifth Month in a Row Amid Grim Economic Outlook
Rows of houses in Hastings, England, on Aug. 5, 2020. Dan Kitwood/Getty Images
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Average house prices in the UK fell for the fifth month in a row in January, as mortgage rates remain at a high level and the cost of living continues to soar.

According to the Nationwide building society, the average price of a home slid to £258,297 ($318,817) in January, a fall of 0.6 percent or almost £4,000 from the previous month.