Mortgage lender Nationwide has said house prices are likely to keep falling after a weak June. The company said prices in June were on average 0.2% lower than in May. The rising numbers of property for sale has enabled buyers to negotiate larger discounts. The drop in house prices pushed the annual inflation rate to 4.1% from 5.5%. This is the lowest rate recorded for almost nine years. Nationwide’s group economist Fionnuala Earley said: “Estate agents continue to report stalemates between buyers and sellers on price and the stock to sales ratio looks set to rise.” She added: “This cannot continue indefinitely and price expectations will adjust. There are some early signs of easing but questions remain over timing.” (FT)