London house prices fall for first time in over 3 years

File photo of a couple checking out property for sale in London. The Royal Institution of Chartered Surveyors said prices in London fell for the first time since January 2011, ending the longest unbroken run of increases in more than 20 years.

LONDON: London house prices fell last month for the first time in more than three years, and prices nationwide showed their smallest increase in 15 months, a major house price survey showed on Thursday.

Last week data from mortgage lender Nationwide, which is typically more volatile than the RICS index, showed the first month-on-month fall in house prices across Britain since April 2013. Rival lender Halifax said on Wednesday that although prices rose more rapidly than expected in September, growth looks likely to moderate going into next year.