U.K. House Prices Drop Most Since 2012 as BOE Raises Rates
- Values fall 0.5% in August, the most since July 2012
- Nationwide says prices should rise about 1 percent this year
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U.K. house prices fell by the most in six years in August as the Bank of England lifted interest rates, according to Nationwide Building Society.
The lender said in a report Friday that values fell 0.5 percent in August. Compared with a year ago, the pace of gains slipped to 2 percent from 2.5 percent in July.