House price growth slows in June.

According to the Nationwide House Price Index UK house prices fell by 0.2% in the month of June, annual house price growth moderated to 3.3% from 4.6% in May.

 

Commenting on the figures, Robert Gardner,Nationwide’s Chief Economist, said: “The annual pace of house price growth continued to slow in June, moderating to 3.3% from 4.6% in May. This maintains the gradual downward trend that has been in evidence since mid – 2014, though this is the smallest annual rate of increase for two years.House price growth continues to outpace earnings, but the gap is closing, helped by a pickup in annual wage growth, which moved up to 2.7% in the three months to April from 1.9% at the start of the year.
“The slowdown in house price growth is not confined to, nor does it appear to be driven primarily by, developments in London. In quarter on quarter terms, London has continued to see price growth at or above the rate in the UK overall over the past three quarters, while the annual rate of price growth in the capital remains the second highest in the country.
“ Eleven of the thirteen UK regions saw a slowdown in the annual rate of growth in Q2. Most parts of the country continued to see annual house price gains-the exceptions were Wales and Scotland, which recorded small declines.
For further details http://www.nationwide.co.uk/about/house-price-index/headlines

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Renters seek fixer-uppers, with over £40,000 cheaper price tag

A consumer survey from Rightmove of over 34,000 home-movers has revealed that 68% of renters are eager to take on fixer-uppers to help get on the housing ladder, compared to 54% of home-owners A study of available fixer-upper properties on Rightmove reveals that homes in need of renovation are 12%, or £44,634 cheaper than the…
Read More
Breaking News

Breaking Property News 11/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Navigating new legislation in the Lettings sector Paul Starkey, technology and property industry veteran and also advisor for Symple, gives his take on how to better monetise lettings operations. ‘During a housing crisis, the last thing the UK needs is a subsequent catastrophe in…
Read More
how to present your property for sale
Breaking News

Areas in England with the best value for house prices and education, according to new research

Kingston upon Hull has the highest combined score of 75.30 out of 100 for bothhouse prices with adequate value and ‘outstanding’ schools Three Rivers is in second place with a score of 73.73, while Preston takes third place with a score of 72.66 The study created scores by determining areas with relatively low house prices…
Read More
Estate Agent Talk

Why Every UK Estate Agent Needs a Modern CRM to Stay Competitive

Despite their best efforts, many estate agents in the UK are struggling to meet their business goals. What’s holding them back? According to industry experts, one key issue is the absence of an effective CRM (Customer Relationship Management) system. In today’s fast-moving property market, estate agents face numerous challenges—from managing client turnover and tracking leads…
Read More
Home and Living

DeWalt: An Indispensable Helper During Your Move

Moving is a process that many of us experience with a mix of excitement and anxiety. From packing to unpacking, transporting to setting up furniture, every detail requires attention and effort. In such situations, having a reliable helper like DeWalt tools can significantly simplify and speed up the moving process https://www.ukplanettools.co.uk/dewalt/. 1. Packing and Disassembling…
Read More
for sale sign london
Overseas Property

Exploring Homes for Sale in Spain: A Guide for International Buyers

Spain has long been a top destination for international buyers looking to invest in real estate. Its combination of sunny beaches, rich culture, delicious cuisine, and vibrant cities makes it a favorite for those seeking both a holiday retreat and a valuable investment. With a growing market and diverse options, homes for sale in Spain…
Read More