Home prices in UK fell for fifth month in a row, Bloomberg reports. And this is the longest period since financial crisis.

Values lost 0,2% compared with June, and average price of house fell to 302251 pounds. Sales in London declined by 7% compared with the year earlier.

UK’s housing market is declining after three decades of growth due to slowdown in economic development, uncertainty around Brexit and inflation that exceeds wage rise.

London, where prices are twice as high as at national level, suffered the most.

As a whole annual price growth in the country slowed down to 1,6% and sales fell 6%. Interest rates hike by the Bank of England will make the situation worse, experts of Acadat think.

Report of Visa and IHS Markit showed that consumer spending decreased in July by 0,9%.