House price growth falls to slowest pace for 5 years according to Nationwide
Latest Nationwide House Price Index report – June 2018 released today headlines ‘Annual house price growth slows to a five-year low in June’.
The Nationwide report reveals that most regions saw slowing in house price growth, UK annual house price growth softened to 2%. Prices were up 0.5% uing the month, after taking into account seasonal factors.
London was the only region to see a decline, having seen modest year-on-year price falls in each of the last four quarters according to Nationwide.
Commenting on the figures, Robert Gardner, Natiowide’s Chief Economist, said:
“Annual house price growth fell to its slowest pace for five years in June. However, at 2% this was only modestly below the 2.4% recorded the previous month.
“Indeed, annual house price growth has been confined to a fairly narrow range of c2-3% over the past 12months, suggesting little change in the balance between demand and supply in the market over that period.” more
Read the Nationwide House Price Index report- June 2018 in full click here.