UK: House prices fall unexpectedly

House prices unexpectedly fell for the second month in a row in January, due to the prospect of greater unemployment and buyers' problems finding large enough mortgage deposits, data from lender Nationwide showed on Wednesday.

Nationwide said that house prices dropped by a seasonally adjusted 0.2 percent last month after a similar decline in December, and are just 0.6 percent up on a year earlier.

Economists polled by Reuters had expected prices to remain flat on the month, giving an annual rise of 1.4 percent.