Housing market subdued for the summer.............

Annual growth in house prices fell to its slowest pace in five years as the lull in the UK housing market dragged into summer, the Nationwide said.

The building society said demand from buyers was subdued, while the number of properties coming on to the market was "more of a trickle than a torrent".

UK house prices rose by 2% in the past year, it said, with prices slightly higher in June than in May.

The month-on-month rise was 0.5%, making the average home worth £215,444.

Robert Gardner, chief economist at the Nationwide, said there had been "little change in the balance between demand and supply in the market" during the last 12 months.

The Nationwide has predicted that house prices will rise by 1% over the course of 2018