House price growth at six-year low, Nationwide says

UK house prices suffered their greatest month-on-month fall in August since July 2012, according to new data. Nationwide Building Society's house price index showed prices fell by 0.5% in the month, as annual house price growth slowed to 2% , down from 2.5% in the previous month. The average price of a house slipped to £214,745 in August, from £217,010 in July. Nationwide chief economist Robert Gardner said: “Looking further ahead, much will depend on how broader economic conditions evolve… Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on house price growth and market activity this year. Overall, we continue to expect house prices to rise by around 1% over the course of 2018.”

Daily Mail (31/08/2018)   City AM (31/08/2018)