Nationwide: House prices down again in August

House prices fell for the second month in a row in August, according to the Nationwide building society.

Prices fell 0.9% last month, following a 0.5% decline in July, Nationwide said, adding that it was the first time that prices had fallen for two consecutive months since February 2009.

The average house price now stands at just over £166,500.

The BBC's Sally Eden spoke to Martin Gahbauer, group economist at the Nationwide.

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