House prices in the UK fell by 0.6% to £278,024 in May, according to Nationwide’s house price index. The decline follows a 0.4% increase in April and reflects a broader downturn in consumer confidence.
Nationwide chief economist Robert Gardner commented: “Given the uncertainty caused by developments in the Middle East…some loss of momentum was to be expected.”
The fall in prices may mean it is not an ideal time for couples to be separating or looking to divorce as the cost of re-housing may be beyond them trying to achieve 2 alternative properties out of one.