UK house prices pick up, says Nationwide

2nd September  2016

August saw a "slight pick-up" in house price growth, says the Nationwide, but the outlook is still subdued. The building society said prices rose by 0.6% compared with July, making the average cost of a home £206,145. Prices in August were 5.6% higher than a year earlier, compared with 5.2% in July. Nationwide added that while buyer demand had softened, the number of new homes coming to market had also been low, which has kept the balance of demand and supply in check, which in turn has kept prices higher. The future for property prices would be determined by the labour market and confidence amongst buyers, said Nationwide chief economist Robert Gardner.

The Daily Telegraph (31/08/2016)