UK house prices drop on ‘fading’ Brexit spending

British house prices fell for a third consecutive month in May for the first time since 2009, according to a survey, that underlines the housing market’s slowdown since last year’s Brexit vote.

House prices fell 0.2% month-on-month in May, compared with a 0.4% drop in April, mortgage lender Nationwide said.

Year-on-year, house prices were up 2.1%, marking the weakest annual growth since June 2013 and slowing from growth of 2.6% in April.