
Fears for ther UK housing market have deepened after figures from Nationwide showed the average cost of a home dropped by 2.5 per cent in May - the seventh running month house prices have slumped.
It is the biggest monthly fall recorded by the building society with average prices now 4.4 per cent lower than a year ago.
The report also revealed that a typical home lost almost £5,000 in value over the month.
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