UK house prices rebound, Nationwide says

UK House Price UpUK house prices bounced back in June after three months of falls, according to mortgage lender Nationwide.

House prices rose by 1.1% during the month after falling by 0.2% in May.

But Nationwide economist Robert Gardner warned that “monthly growth rates can be volatile, even after accounting for seasonal effects”.

The average price of a house in the UK rose by £2,590 to £211,301. Annual house price growth edged up to 3.1% from 2.1% in May

Regional picture

London house prices rose at the slowest annual pace since 2012, by 1.2% year-on-year.
Mr Gardner said: “There has been a shift in regional house price trends. Price growth in the south of England has moderated, converging with the rates prevailing in the rest of the country.”

He added that in the second quarter of the year, the gap in percentage rises between the strongest performing region – East Anglia, which saw 5% annual growth – and the weakest – the North of England, with 1% growth – was the smallest on record.

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