Aug. British house prices saw 10.5% annual drop: Nationwide

LONDON (MarketWatch) — The average British house price saw a monthly decline of 1.9% in August, mortgage-lender Nationwide reported Thursday. Prices have fallen by 10.5% compared to August last year, marking the first double-digit decline in the annual rate since the fourth quarter of 1990, Nationwide said. Consensus expectations were for a 1.6% monthly fall and a 9.9% annual decline, according to a Dow Jones Newswires survey of economists.
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