30
Jun
Latest House Price Information.....
House prices rose again in June but only by 0.1%, according to
the Nationwide building society.
The rise follows a 0.5% increase in May, with the average property
in the UK now costing more than £170,000.
Prices have risen by 3% since the start of the year, the
Nationwide's house price index showed.
However, the rate of annual house price inflation fell again to
8.7%, with prices rising more slowly than they did this time last
year.
Commenting on the figures, Nationwide's chief economist Martin
Gahbauer said the slowdown may be due to an increase in the number
of properties up for sale.
"Recent indicators point to an increase in the supply of property
coming to the market for sale, perhaps in response to the abolition
of Hips (Home Information Packs) in the opening days of the new
coalition government," he said.
"With the level of demand remaining broadly stable, this would in
part help to explain the recent slowdown observed in the rate of
house price inflation."
The coalition government confirmed that Hips would be abolished
following the election in May.