According to Nationwide, January saw a 1.3% fall in house prices, leaving them down 16.6% on the year. The three months to January figure dropped by 4% on the same time period year. The equivalent in the last Nationwide report was 4.2%. Interestingly, this particular figure - which is often used within the industry - has been improving for four consecutive months, providing some evidence that the rate of fall might be slowing.

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