RICS: Nationwide February house price data

Commenting on the Nationwide house price data, Simon Rubinsohn, RICS chief economist said: "The index compiled by the Nationwide Building Society has declined for four consecutive months and we expect this trend to persist for a while to come. Crucially with lenders scaling back loan to value ratios and generally favouring existing homeowners in terms of lending rates, first time buyers are continuing to struggle to get a foothold in the property market. Without their renewed support, prices are likely to drift lower."