UK house prices in longest slump since 2008, lender warns

January's UK house price decline was also more than economists had expected

Nationwide Building Society warned the UK's housing market is unlikely to pick up in the coming months. Picture: Eddie O'Hare

UK house prices fell for a fifth month in January, the longest string of declines since the financial crisis more than a decade ago, Nationwide Building Society has said. 

The mortgage lender said average home costs fell 0.6% in the month and by a revised 0.3% in December, steeper than its previous estimate. The monthly decline was also more than economists had expected.