Annual house price growth dips to 2.1%, providing further evidence that housing market is losing momentum.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: "House prices recorded their third consecutive monthly fall in May - the first time this has occurred since 2009. The annual rate of growth slowed to 2.1%, the weakest in almost four years. "It is still early days, but this provides further evidence that the housing market is losing momentum. Moreover, this may be indicative of a wider slowdown in the household sector, though data continues to send mixed signals in this regard.