House price growth at two-year low

3rd July 2015

The annual rate of house price growth fell to a two-year low last month, the Nationwide Building Society has said. Annual house price inflation fell to 3.3% in June from 4.6% the month before, it said. Between May and June prices across the UK fell by 0.2%, taking the average cost of a UK property to £195,055. Robert Gardner, Nationwide's chief economist, said: "House price growth continues to outpace earnings, but the gap is closing, helped by a pick-up 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”. The average price in the capital rose by 7.3%, to £429,711.

The Daily Telegraph (02/07/2015)