UK DATA: Nationwide Sep House Prices Down 0.4% m/m; Fall 1.4% y/y
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House prices fell slightly in September after seeing a spike in
August, falling 0.4% on the month, a little larger fall than analysts
median forecast for a 0.2% drop. The Nationwide data show moderate
levels of house price deflation, with September prices down 1.4% on the
year compared to down 0.7% in August and a sharper 2.6% drop in July.
UK house prices surveys, at worst, are showing slight deflation y/y and
these data are in line with that.