UK house prices declined the most since 2009 in May, and mortgage approvals and lending dropped in April, indicating deterioration in the housing market activity amid the rising interest rates.
The house price index slid 3.4 percent from a year ago, marking the biggest fall since 2009, the Nationwide Building Society reported Thursday. The drop followed a 2.7 percent decrease in April.
House prices posted a monthly fall of 0.1 percent in May, reversing a 0.4 percent rise in April. Nonetheless, the drop was slower than the 0.5 percent decrease economists had forecast.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.