UK house prices fell by 0.8% in June, the biggest monthly decline since November 2022, beating analysts' expectations.

Data from Nationwide shows a fall in UK house prices, the most severe since November 2022, after the expiry of the first-time buyer tax rebate program. Economists had expected a 0.2% rise. Robert Gardner, Nationwide's chief economist, suggests weak demand and the April tax hike could weigh on the trend, but he expects improvement this summer.