The Nationwides July House price Index sees price growth being moderated in the UK with key figures being:
- UK house price rise of just 0.1% in July, the slowest since April 2013 and a virtual stand still
- Double digit annual house price growth, although down to 10.6% from 11.8% in June
- Average UK House Price for July is £188,949
Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said:
“Although UK house prices recorded their fifteenth successive monthly increase in July, the pace of growth slowed. The price of a typical home increased by just 0.1% over the month, while the annual rate of price growth moderated to 10.6% from 11.8% in June.
“The slowdown was not entirely unexpected, given mounting evidence of a moderation in activity in recent months. Mortgage approvals declined by almost 20% between January and May, and there has also been some softening in forward looking indicators, such as new buyer enquiries.